U.S. stocks traded lower Wednesday afternoon after the Federal Reserve's rate-setting committee cut interest rates by a quarter percentage point, as expected. The Dow Jones Industrial Average DJIA, +0.07% was trading flat at 27,057, the S&P 500 index SPX, -0.03% was trading 0.2% lower at 3,031, while the Nasdaq Composite Index COMP, -0.04% declined 0.2% at 8,258. The Federal Open Market Committee cut its benchmark rate by 25 basis points to a 1.5%-1.75% range, from 1.
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I thought the economy was the greatest it has ever been in the history of mankind. Why a rate cut?
3 times in one year isn't normal.
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Source: CNBC - 🏆 12. / 72 Read more »