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On September 18, 2024, the Federal Reserve announced a 0.5 percentage point cut to its key interest rate, lowering it to a range of 4.75% to 5%. This marks the first rate cut in over four years, aimed at supporting the economy amid signs of a cooling job market and easing inflation.
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U.S. stock markets showed mixed results as the Dow reached a record high while the S&P 500 and Nasdaq declined. Investors are reacting to Federal Reserve Chair Jerome Powell's comments on potential interest rate cuts, with energy stocks rising due to increased crude oil prices amid geopolitical tensions.
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Nvidia's shares fell 9.5% on September 3, 2024, leading to a significant selloff in global stock markets. Concerns over economic slowdown and disappointing manufacturing data have investors on edge ahead of key employment reports. The Nasdaq Composite dropped 3%, marking its largest decline since early August.
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On September 19, 2024, global markets surged following the Federal Reserve's unexpected 0.5 percentage point interest rate cut. The FTSE 100 rose 0.91%, buoyed by mining stocks, while the S&P 500 also climbed, reflecting investor optimism about economic recovery. The Bank of England maintained its rates at 5%, contributing to a stronger pound.