Stock Market Today: S&P 500 snaps 7-day win streak as Fed delivers jumbo rate cut

Investing.com -- The S&P 500 snapped an seven-day wining streak in choppy trading Wednesday after the Federal Reserve delivered a larger 50 basis point rate cut, marking the first cut since March 2020.fell 0.3%, or 103 points. Stocks initially surged on the rate cut decision, before swinging wildly to eventually close in the red.

Heading into the decision, markets were split on whether the central bank would deliver a 25bps or 50 bps cut. The central bank also signaled that is expected to deliver two 25bps rate cuts this year, up from a June forecast for just one cut. Today’s announcement is best characterised as a"hawkish 50bps," Capital Economics said in a Wednesday note, noting that the decision to cut by 50bps wasn't unanimous and that the Fed only expects an additional 50 bps of cuts between now and the end of the year.) climbed after Bloomberg News reported that Nippon Steel had won an extension in the review of its $14.1 billion approach for the American steelmaker.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Stock Market Today: S&P 500 snaps 8-day win streak as energy stocks slideStock Market Today: S&P 500 snaps 8-day win streak as energy stocks slide
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

Stock market today: S&P 500 slips as Nvidia rebound runs out of steamStock market today: S&P 500 slips as Nvidia rebound runs out of steam
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

Stock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopesStock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopes
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

Stock Market Today: S&P 500 rides Nvidia-led rally to close higherStock Market Today: S&P 500 rides Nvidia-led rally to close higher
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

Stock market today: S&P 500 slides on fresh economic worries ahead of jobs reportStock market today: S&P 500 slides on fresh economic worries ahead of jobs report
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

Stock market today: S&P 500 shrugs off inflation surprise as focus shifts to FedStock market today: S&P 500 shrugs off inflation surprise as focus shifts to Fed
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »