Stock market today: Asian markets forge higher after Fed's first rate cut in over 4 years
Thursday, 19 September 2024 () Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates. Japan's Nikkei 225 index jumped 2.5% and the Japanese yen weakened against the dollar. On Wednesday, the S&P 500 slipped 0.3% but it remains within 1% of its all-time high set in July. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite gave back 0.3%. Because the Fed's first cut to interest rates in four years was so well telegraphed, markets had already climbed in anticipation. So market reactions to the Fed's shift in approach were relatively muted. Treasury yields rose.
New Yorkers share their thoughts as the US Federal Reserve cut its key lending rate by half a percentage point in its first reduction for more than four years. Wall Street shares bounced at the open after falling the previous day, even though the Fed's rate reduction that many investors had hoped for...
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Thursday, 19 September 2024 ()
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