Global markets gain as US Fed cuts rates
Global markets found their footing on Thursday after the US Federal Reserve trimmed interest rates by a quarter-point.
Fed Chair Jerome Powell called it a "risk-management cut," signaling they're being careful about any future moves.
US equity futures, along with stocks in Korea, Taiwan, and Japan, all nudged up in opening moves as market sentiment appeared positive following the Fed's cautious approach.
Currency markets see mixed reactions
Currency markets were a bit all over the place—the US dollar dipped at first but bounced back later.
The Bank of Canada also lowered its key rate to 2.5%, following the Fed's lead.
Not everywhere saw gains though: New Zealand's main stock index dropped 0.6% on weak economic news, and Australia's market slipped 0.8%.
Meanwhile, the Bank of England looks set to keep its rate steady at 4%.
Powell made it clear that any more rate changes will depend on how things play out in coming months.