Dow Falls, Looks To Snap 9-Day Losing Streak; Bold interest rate decision; Nvidia and several Movers

On By Littum

Stocks fell as Federal Reserve Chairman Jerome Powell began his press conference in the wake of the central bank’s latest rate cut on Wednesday.

The Dow Jones Industrial Average fell 278 points or 0.6 per cent. The S&P 500 fell 0.8 per cent. The Nasdaq Composite fell 0.9 per cent.

All 11 major S&P sectors were on track to close lower for what would be the first time since August, according to Dow Jones Market Data.

Although the Fed opted for another quarter-point cut, central bank officials essentially halved their expectations for rate cuts in 2025.