NewsBreak: Stocks Dip Slightly After Fed Cuts Rates

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Investing.com – Stocks were slightly lower after the Federal Reserve’s rate cut Wednesday.

  • The was off 0.2% at 2:39 PM ET (18:39 GMT), with the {{169|Dow Jones industrials} off 0.03%. The was down 0.17%.
  • Utilities, health and technology stocks were the market leaders.
  • The Fed cut its federal funds rate to 1.5% to 1.75%. It was the Fed’s third rate cut in as many meetings and came on worries about global economic growth issues and low inflation. Its description of the domestic economy indicated steady growth in consumer spending and jobs but weak business investment spending and exports.
  • The Fed did not indicate if it will cut rates again at, say, its December meeting. Rather it wants to see what the economic data show. Investing.com’s puts the odds of no cut at 80%.
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