0.5% Fed rate cut boosts global markets; US stocks, commodities, and Asian markets rally.
Global markets closed positively this week, driven by a significant 0.5% interest rate cut by the Federal Reserve, which increased liquidity optimism. U.S. stocks, particularly in tech and small-cap sectors, surged, with the Russell 2000 rising 3.22%. The weakening dollar boosted commodity prices, resulting in record highs for gold and gains in oil and cryptocurrencies. Asian markets mirrored this trend, with Hong Kong stocks seeing their best weekly performance in five months, fueled by expectations for a soft U.S. economic landing.
September 20, 2024
3 Articles