US equity markets settled sharply lower after a volatile and eventful session that saw the Federal Reserve announce a inter-meeting interest rate cut half an hour into the session - Dow fell -786-points or -2.94% after falling as much as -997-points earlier in the session. Major banks fell as US treasury yields hit a record low, with the 10-year Treasury yield falling below <1% for the first time ever. The broader S&P500 shed -2.81%, with Information Technology (down -3.79%) and Financials (-3.73%) leading all eleven primary sectors into the red. The NASDAQ dropped -2.99%. Chipmaker Qorvo Inc (down -2.13%) lowered its March quarter sales guidance by US$50M from the mid-point if its prior range to US$770M
