New York - Saba:
The major US stocks fell sharply last night after the Federal Reserve (the central bank) cut interest rates by a quarter point, the lowest level in two years.
Most officials expect two cuts for the coming year 2025, as the indices fell on Wednesday, as the Nasdaq, which focuses on heavy technology, fell 716 points to 19,392 points, or 56.3 percent.
The Dow Jones Industrial Average also fell sharply, falling 1,123 points to 42,215 points, or 2.58 percent.
The Standard & Poor's (S&P 500) index fell by about 178 points to 5,872 points, or 2.95 percent.
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