Dow Jones gains 450 points as Fed cuts rates
The Dow Jones shot up by 450 points on Wednesday after the US Federal Reserve lowered interest rates to 4%-4.25%.
While the S&P 500 nudged up, the Nasdaq slipped a bit, mostly because tech stocks took a hit after China put new limits on NVIDIA.
Financial stocks bounce back
The Fed cut rates to help out the economy and support jobs, especially with hiring slowing down and inflation sticking around.
This move made investors more confident in steady sectors like consumer staples and healthcare, which both saw gains.
Financial stocks also bounced back—American Express even hit a record high.
Job growth worries linger
Even with lower rates, worries about job growth and global risks linger.
Tech stocks struggled after China restricted NVIDIA chip sales, breaking a long winning streak for semiconductors.
Meanwhile, some companies like New Fortress Energy and Workday still managed to post gains, showing just how mixed investor reactions are right now.