The Dow Jones Industrial Average dropped over 1,100 points, while the S&P 500 and Nasdaq Composite also saw significant declines. The Federal Reserve's projections indicate only two interest rate cuts in 2025, compared to the previously predicted four.
US stocks sank to their second-worst loss of the year after the Fed eral Reserve signaled that it may deliver fewer interest rates cuts in 2025 than earlier thought. The S&P 500 dropped 2.9% Wednesday to pull further from its all-time high set a couple weeks ago. The Dow Jones Industrial Average sank more than 1,100 points, and the Nasdaq composite dropped 3.6%.
Fed officials released projections showing they’re penciling in just two cuts to interest rates next year, instead of the four they were projecting a few months ago. Treasury yields ramped higher to add pressure on the stock market
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