Source: ABC News
“The stock market plunged on Wednesday after the Federal Reserve scaled back its expectations for interest rate cuts next year. The Dow Jones Industrial Average fell about 1,100 points, or 2.5%, the largest drop for the index since August. The dip marked the 10th consecutive day of losses for the Dow, its longest losing streak since 1974. The S&P 500 fell nearly 3%, while the tech-heavy Nasdaq plummeted about 3.5%. … Speaking at a press conference in Washington, D.C., on Wednesday, Fed Chair Jerome Powell said the central bank may proceed at a slower pace with future rate cuts, partly because it has now substantially lowered interest rates.” (12/18/24)
https://abcnews.go.com/Business/dow-plummets-1100-points-after-fed-scales-back/story?id=116923071