What Happened in the Stock Market Today
The Federal Reserve cut interest rates for the first time in a decade, but comments by Chairman Jay Powell had investors believing further cuts are unlikely, and major benchmarks sold off after the announcement. The Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) opened higher and were close to even for most of the session, but plunged in the late afternoon. All the S&P sectors closed down.
Data source: Yahoo! Finance.
As for individual stocks, Apple (NASDAQ: AAPL) reported a strong quarter, and results from General Electric (NYSE: GE) beat expectations.
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