U.S. stocks declined after the Federal Reserve cut interest rates by 50 basis points on September 18.
U.S. stocks declined on September 18 after the Federal Reserve cut interest rates by 50 basis points, marking its first reduction in four years. The Dow fell 0.25%, S&P 500 dropped 0.29%, and Nasdaq decreased 0.31%. Despite initial gains post-announcement, all major indices closed lower. Fed Chair Jerome Powell indicated confidence in achieving inflation targets while addressing recession risks, yet investor skepticism about the rate cut's effectiveness lingered.
September 18, 2024
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