THE US FEDERAL Reserve's policy decision that could shut the door on further rate cuts in the near future roiled markets on Thursday, with currencies, bond yields and equities across the world feeling the heat. The global meltdown saw the Sensex falling almost 1,000 points, the rupee breaching 85/$ and 10-year bond yield hardening by 4 basis points to 6.79%. While the Fed cut its benchmark interest rate by 25 bps, chairman Jerome Powell said, "With this action, we are significantly closer to the end of our easing cycle, but additional adjustments will depend on incoming data and evolving economic risks." Looking ahead, the Fed now anticipates just two 25 bps rate reductions by 2025 end, down from the four projected in September. This drove the Dow Jones to log its longest losing streak since 1974.
All three indices in the US-Nasdaq, S&P 500 and Dow Jones-fell over 2.5% each. Even Euro Stoxx, FTSE-100 and CAC 40 were down over 1.4% each.
Bu hikaye Financial Express Mumbai dergisinin December 20, 2024 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin December 20, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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