Fed: Main Street Lending Program now open for lender registration

The US Federal Reserve announced on Monday that the Main Street Lending Program is now open for lender registration.

"Participating main street lenders must register using the lender portal, which provides secure access and verification," the Fed added. "Business borrowers must apply for the main street loans through a participating lender."

Market reaction

This announcement failed to improve market sentiment on Monday. As of writing, the Dow Jones Industrial Average was down 2.35% on the day while the S&P 500 was losing 1.83%.