US and Canadian stocks plummet as the Federal Reserve cuts rates but signals fewer 2025 cuts due to inflation.

US and Canadian markets saw significant drops on Wednesday after the Federal Reserve decided to cut interest rates but projected fewer cuts in 2025 due to inflation concerns. The S&P 500 fell nearly 3%, and the TSX dropped over 2%. The Fed's move also caused the US dollar to strengthen by more than 1% against the euro.

3 months ago
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