The Federal Reserve lowered interest rates at its second consecutive meeting. Chair Jerome Powell has cast doubt on further rate cuts this year, contradicting market expectations. The Dow Jones Industrial Average fell 0.2%, while the S&P 500 ended nearly flat, with only the Nasdaq Composite rising to another record high. The recent quarter-point cut aims to prevent a potential hiring slowdown from turning into something more serious.
Source: https://www.wsj.com/economy/central-banking/fed-cuts-interest-rates-federal-reserve-by-another-quarter-point-but-data-blackout-obscures-the-path-ahead-0268bdf6