Equities end lower in choppy trade after Fed rate cut

Quick Summary:

US stocks closed with modest losses on Wednesday, well off their intraday highs, after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years.

Regional banks, some of which had been stressed by higher interest rates, also gained ground, with the KBW Regional bank index jumping as much as 3.53% before closing up 0.46%.

Small cap stocks, seen as more likely to benefit from a lower interest rate environment, moved higher with the Russell 2000 outperforming its large cap brethren, as it shot up as much as 2.44% before closing up 0.04% on the day.

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Category: EconomyBusiness

Markets: Malaysia

Topics: InterestRates InflationControl DowJones MarketVolatility Markets /Business/ RateCut FederalReserve USStocks

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-19 @ 06:39:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 693 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22582316

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