Stocks moved broadly lower on Wall Street in early trading Wednesday ahead of a highly anticipated decision from the Federal Reserve on interest rates.
Investors largely expect the Fed to cut short-term interest rates by another quarter of a percentage point, following a similar cut in late July. That marked the first time in more than a decade that the central bank cut rates as it tries to shield the United States from the pain of a slowing global economy and the effects of the trade war with China.
Asian stocks were mixed. Export data from Japan show that the U.S.-China trade war is taking a toll on demand across the region. Japan said exports fell 8% in August, with declines in machinery, vehicles and chemicals.
Oh boo hoo... the billionaires are upset
Rate cut means recession is here
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Source: Reuters - 🏆 2. / 97 Read more »