The Federal Reserve moved to stem a
market meltdown on Thursday with offers of $1.5 trillion in
short-term loans that some analysts say could point to more
aggressive action from the central bank in coming days to
stimulate the economy and stabilize the financial system.
U.S. money market funds took in a
record $87.6 billion in the week to Wednesday, as stocks on Wall
Street buckled, investors moved to cash and panic about the
spreading coronavirus roiled global financial markets, data from
Canada's main stock market
plunged by the most on record and the Canadian dollar weakened
to a four-year low as investors worried that steps being taken
by policymakers would be insufficient to contain the economic
impact of the coronavirus outbreak.
The U.S. securities
regulator on Thursday voted to relax internal audit controls
introduced at smaller publicly listed companies in 2002
following a string of accounting scandals including at
now-defunct energy company Enron Corp.
Germany's debt brake rule
allows for exceptions in extraordinary situations and the
coronavirus crisis is such a case, Chancellor Angela Merkel said
on Thursday, adding that the government's focus now was not how
its budget works out.