Your current location is:{Current column} >>Text

Stock market today: Dow slumps 1100+ points as Fed's hawkish outlook downs stocks By

{Current column}45766People have watched

Introduction-- The Dow slumped more than 1100 points Wednesday,  after Federal Reserve delivered a quarter-point ...

-- The mt4 foreign exchange quotation software downloadDow slumped more than 1100 points Wednesday,  after Federal Reserve delivered a quarter-point rate cut, but halved the number of cuts expected for next year, sending Treasury yields higher and triggering a sea of red across stocks.

At 4:00 p.m. ET (21:00 GMT), the fell 2.6%, or 1123 points, the fell 3% and the slipped 3.6%. 

Stock market today: Dow slumps 1100+ points as Fed's hawkish outlook downs stocks By

Fed halves rate-cut outlook for 2025

The Fed cut interest rates by 25 basis points on Wednesday, but halved the number of rate cuts expected for next year on concerns about a longer-than-expected journey to bring inflation down toward the 2% target. 

Fed members now see the benchmark rate falling to 3.9% for next year, suggesting just two rate cuts, compared with a prior forecast in September for four cuts. 

Treasury yields jumped following the news, with the 2-year Treasury trading surging 11 basis points to 4.346%. 

Nvidia rebound fades after sharp reversal; Jabil jumps; stumbles

NVIDIA Corporation (NASDAQ:) cut its intraday gains to en 1% lower following the broader market slump. The chipmaker fell deeper into correction territory on Tursday following its 10% plunge from a recent peak.

Tesla Inc (NASDAQ:), meanwhile, halted its impressive run with a 8% slump.  

Inc (NYSE:) was in rally mode, surging 7% after reporting stronger-than-expected fiscal first quarter results and guidance.

Elsewhere on the earnings front, (NYSE:) reported Q4 results that topped Wall Street estimates, sending its shares more than 2% higher.

General Mills Inc (NYSE:) stumbled after cutting its annual outlook on earnings as ramp up in promotional activity dented margins. 

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!

Tags:

Related articles