Dow Drops Over 1,000 Points on Fed's Hawkish Cut -- Market Talk

Dow Jones2024-12-19

1607 ET - U.S. stocks plummet after the Fed cut rates as expected while apparently surprising markets by reducing estimates of future monetary easing. Officials now see PCE inflation ending next year at 2.5%, up from their previous 2.1% forecast and slightly higher than the gauge's expected 2.4% 2024 final reading. Chair Powell says the economy is doing well and he expects momentum to continue next year, but that isn't enough to improve Wall Street's mood. Nasdaq falls 3.6% to 19392 and the S&P 500 loses 3% to 5872. The DJIA drops 1,123 points, or 2.6%, to 42326. The last time all three fell 2% or more was in August. (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

December 18, 2024 16:08 ET (21:08 GMT)

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Nasdaq falls 3.6% to 19392 and the S&amp;P 500 loses 3% to 5872. The DJIA drops 1,123 points, or 2.6%, to 42326. The last time all three fell 2% or more was in August. 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Officials now see PCE inflation ending next year ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PCOM","symbol_name":"Points International","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2492154586","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492154586","pubTimestamp":1734556080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1607 ET - U.S. stocks plummet after the Fed cut rates as expected while apparently surprising markets by reducing estimates of future monetary easing. 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