Wed Sep 18 20:27:00 UTC 2024: ## Fed Rate Cut Fails to Spark Market Rally
**NEW YORK -** The U.S. stock market experienced a slight dip on Wednesday despite the Federal Reserve’s attempt to stave off a recession with an unusually large interest rate cut.
While traders on the floor of the New York Stock Exchange closely monitored the news conference of Federal Reserve Chair Jerome Powell, the S&P 500 index closed down 0.3%, falling 0.9% below its record high set in July. The Dow Jones Industrial Average also lost ground, dropping 103 points or 0.2%, although it remains near its record high reached on Monday. The Nasdaq composite mirrored the trend, closing down 0.3%.
The market’s muted response suggests investors remain cautious despite the Fed’s aggressive action.
First Piper 