Historic Fed boost fails to stop Wall Street's coronavirus-driven sell-off

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NEW YORK: Wall Street's slide deepened on Monday as an unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy proved insufficient to sooth investors' fears about the swiftly-spreading coronavirus.

After recently cutting interest rates to near zero, the Fed will now lend against student loans and credit card loans, as well as back the purchase of corporate bonds and make direct loans to companies.