The Dow Jones Industrial Average shed 2.6%, or 1,123 points, closing at 42,327. The S&P 500 lost nearly 3%, closing at 5,872. The Nasdaq Composite lost 3.6%, closing at 19,393.

The S&P 500 and Nasdaq have traded at or near record highs in recent days, partly in anticipation of a rate cut by the Fed.

But the Dow has had a long December. Wednesday marked the 10^th consecutive losing session for the index, its longest down streak since 1974.  A four-digit slide on a single day is a rare event.

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Source: https://www.usatoday.com/story/money/2024/12/18/dow-loses-1100-points-fed-interest-rates/77073535007/

The post Dow falls 1,100 points on disappointing Fed interest rate news first appeared on Garner Ted Armstrong Evangelistic Association.

The ECB cut its benchmark deposit rate by 25 basis points to 3.0%, while the interest rate on its main refinancing operations fell to 3.15%.

The ECB has already cut rates at three of its last four meetings. Nevertheless the debate has shifted to whether it is easing policy fast enough to support an economy that is at risk of recession, facing political instability at home and the prospect of a fresh trade war with the United States.

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Source: https://www.investing.com/news/economy/ecb-cuts-interest-rates-by-25-bps-as-expected-3768628

The post ECB cuts interest rates by 25 bps, as expected first appeared on Garner Ted Armstrong Evangelistic Association.