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TRENDING/ US 30-year mortgage rate falls to two-year low | Amazon raises pay of US hourly workers | Fed slashes rates by 50 bps |
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  • Wall Street rallies after Fed delivers major rate cut, Nasdaq surges 1.16%

Published 00:43 IST, September 19th 2024

Wall Street rallies after Fed delivers major rate cut, Nasdaq surges 1.16%

There was a 65% probability of a 25 bps cut last week, but this shifted to a 57% chance for the more substantial 50 bps cut this week, as per CME Fedwatch tool.

Reported by: Business Desk
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00:14 IST, September 19th 2024