Wall Street sinks as Fed cuts funds rates further

Wednesday, 18. September 2019 20:18

US equities traded deeply in the red following the latest monetary policy decision from the Federal Reserve. The US central bank decided to cut the target range for the federal funds rate by 0.25 basis points to the 1.75%-2% range, citing "global developments for the economic outlook as well as muted inflation pressures."

The Dow Jones plunged 165 points, or 0.60%, at 2:18 pm ET. The Nasdaq 100 lost 0.94% at the same time, while the S&P 500 sank 0.70% a minute later.

The euro declined 0.34% against the US dollar, going for 1.10377 at 2:19 pm ET.

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Breaking the News / GG