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Tuesday's Market: Stocks Take a Beating as Investors Respond to Rate Cut

 

"We wanted 75!"

Disappointed by the Federal Reserve's federalreserve decision to cut the fed funds rate fedfundsrate by a half percentage point instead of a more aggressive 75 basis points, investors slammed on the brakes, bringing today's early rally to a precipitous halt.

The Dow Jones Industrial Average djia, which rose above the key 10,000 benchmark at 2:20 p.m. EST, plunged 238 points to finish at 9721, its lowest close since March 24, 1999. Meantime, the Nasdaq Composite Index nasdaq ended at its worst level since Nov. 13, 1998, off 94 points to 1857. The tech measure is now more than 63% off its all-time high. ...

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Dow Jones S&P 500 NASDAQ 10-Year Note
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Oil *
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UP
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