US stock indexes edged lower Wednesday after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates.
- The S&P 500 fell 16.32 points, or 0.3%, to 5,618.26 after a day of bobbing higher and lower.
- T he Dow Jones Industrial Average fell 103.08 points, or 0.2%, to 41,503.10.
- The Nasdaq composite fell 54.76 points, or 0.3%, to 17,573.30.
Because the Fed’s first cut to interest rates in four years was so well telegraphed, and markets had already moved so much in anticipation of it, Wall Street’s reactions weren’t that big despite the momentous move by the Fed, the AP reports. Treasury yields edged higher.
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