US stocks edge down after Fed rate cut

This is the first cut in more than four years and is seen as a strong move to keep the US labor market stable as inflation gradually declines.

The S&P 500 fluctuated between gains and small losses before the Fed announced its decision. It jumped as much as 1% after the announcement, but then reversed course and closed lower. The Dow and S&P 500 both hit session highs before falling.

The Dow Jones Industrial Average fell 103.08 points, or 0.25%, to 41,503.10. The S&P 500 fell 16.32 points, or 0.29%, to 5,618.26. The Nasdaq Composite lost 54.76 points, or 0.31%, to 17,573.30.

US stocks have been on a seven-day winning streak, but many positive factors have been reflected in stock prices. Small-cap stocks have been strong on expectations of a low-interest-rate environment, while regional banks have also risen on the news.

Total volume on U.S. exchanges was 11.63 billion shares, compared with the 10.82 billion average over the last 20 trading days.

The Fed said the decision to cut interest rates came as the US central bank was "more confident" that inflation was moving closer to its 2% target.

According to experts, the 50 basis point cut is a strong signal that the FED is working on another 50 basis point cut this year.

Source: https://nhandan.vn/chung-khoan-my-giam-nhe-sau-quyet-dinh-cat-giam-lai-suat-cua-fed-post831801.html