Dow rises over 100 points to hit record after Fed delivers super-sized 50 bps cut
- Posted on September 18, 2024
- By Business News Today
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Dow rises over 100 points to hit record after Fed delivers super-sized 50 bps cut
US stocks surged after the Federal Reserve cut interest rates by half a percentage point, ending its rate-hiking cycle. The Fed reduced its overnight lending rate to a range of 4.75%–5%. Wall Street responded positively, with the Dow Jones climbing 120 points and both the S&P 500 and Nasdaq Composite reaching new all-time highs.