EDITOR'S NOTE
It was one of the worst weeks ever for the Dow Jones Industrial Average, and that grim milestone came before trading even opened on Friday.
It only got worse. The Dow was down sharply again on Friday, and a statement from Federal Reserve Chairman Jerome Powell offered just a little comfort.
The major indexes ended the week down about 13% to 14% below their highs, marking a steep stock market correction. 
The Fed can lower interest rates or pump more money into the banking system, but borrowing costs are already falling. The 10-year Treasury yield plunged to a record low of 1.12%, and the two-year rate dropped below 0.9%.
Many market observers say there's not much the Fed can do to ease what is likely to become a pandemic.
“The Fed can’t do anything to stop the spread of COVID-19," Ian Lyngen, BMO’s head of U.S. rates, said in a note on Friday. "But they also can’t stand idly by in the face of a global equity correction."
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