U.S. Stocks Fall Sharply And Dow Tumbles 1,100 Points After The Fed Hints At Just 2 Rate Cuts For 2025
3 months, 1 week ago

U.S. Stocks Fall Sharply And Dow Tumbles 1,100 Points After The Fed Hints At Just 2 Rate Cuts For 2025

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WASHINGTON, DC - NOVEMBER 07: Federal Reserve Bank Chair Jerome Powell speaks at a news conference at the Federal Reserves William McChesney Martin building on November 7, 2024 in Washington, DC. Kent Nishimura via Getty Images NEW YORK — U.S. stocks tumbled to one of their worst days of the year after the Federal Reserve hinted Wednesday it may deliver fewer shots of adrenaline for the U.S. economy in 2025 than earlier thought. The Fed said Wednesday it’s cutting its main interest rate for a third time this year, continuing the sharp turnaround begun in September when it started lowering rates from a two-decade high to support the job market. Fed officials released projections on Wednesday showing the median expectation among them is for two more cuts to the federal funds rate in 2025, or half a percentage point’s worth. On the winning end of Wall Street, Jabil jumped 7.3% to help lead the market after reporting stronger profit and revenue for the latest quarter than analysts expected.

History of this topic

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