Textile market struggling in the bottom

Why the Fed slashed rates again but the market didn't go for it?
Recently, the Federal Reserve slashed rates by 50 basis points on Mar 3, and then on Mar 15, it announced an emergency rate cut of 100 basis points to 0-0.25%, a second emergency rate cut in half a month. Since Mar 26, the deposit reserve ratio moved down to nearly zero, and a new round of $700 billion for quantitative easing, QE4, was launched. Commercial Paper Funding Facility (CPFF) will a 1.2 trillion-dollar fiscal stimulus proposal to support the flow of credit to businesses and households by issuing $ 1,000 directly to the public. Since emergency rate cut on Mar 3, more than a dozen central banks around the world have begun actions to cut interest rates and purchase assets simultaneously. Although the wave of interest rate cuts is coming, the effect seems to be small and the market does not work efficiently. After the Fed announced a series of policies, the US and European stock markets triggered circuit breakers. The former had a total of five halt, and the fourth within 10 days during Mar 9-18, and the market panic almost reached its peak. Why the market didn't go for it?