The stock market's 'Trump bump' that followed his victory over Vice President Kamala Harris in last week's election appears to be coming to an end.On Friday, the market dropped to its lowest point since the election, with the Dow Jones Industrial Average down more than 300 points, or about 0.7 percentage points. It has dropped more than 800 points, or about 1.9 percent, since peaking on Monday.The Dow Jones average jumped 1,500 points, or about 3.
The Fed has sought to achieve an economic 'soft landing' as the economy recovers from the COVID-19 pandemic, which in 2020 caused a severe economic downturn worldwide. These rate cuts are viewed by economists as a sign that the Fed is optimistic about the country's economic future.Fed officials signaled in September that they anticipated the central bank could cut rates four times in 2025. Wall Street now expects just two Fed rate cuts, according to CME FedWatch.
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