Covid-19 crisis: US emergency rate cut 'not a real turning point'

Global stockmarkets rallied and then faltered again yesterday after the US central bank’s first emergency rate since the 2008 financial crisis left many investors still fearing the economic fallout of the coronavirus.

The half-point cut by the US Federal Reserve came soon after the finance ministers of the G7 group of the largest economies pledged action to stop the world economic growth from stagnating.