Didn’t they also announce a QE program of at least 700Bn? Fed funds rate at 0 and QE worth at least 700Bn resulted in an 8% S&P drop so far. I’m not sure how

Didn’t they also announce a QE program of at least 700Bn? Fed funds rate at 0 and QE worth at least 700Bn resulted in an 8% S&P drop so far. I’m not sure how much more effective the remaining monetary tools can be.