(Updated 8:59 a.m. ET, April 9, 2020)
Topline: The Federal Reserve announced on Thursday that it will inject another $2.3 trillion to prop up the American economy through a series of unprecedented emergency initiatives that will extend its reach to small and mid-size businesses as well as state and municipal governments.
Crucial quote: "The Fed has launched a mind-boggling number of liquidity initiatives since the start of March and markets are somewhat inured to them at this point. The Fed is creating a powerful backdrop and it’s very hard to see the SPX hitting new lows," says Vital Knowledge founder Adam Crisafulli.
This is a developing story. Please check back for updates.
More from Forbes