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US equities tumbled on Wednesday as the Federal Reserve reduced interest rates by 25 bps but signaled fewer cuts than previously projected for next year, sparking a market sell-off. The S&P 500 and Nasdaq 100 sank by 2.9% and 3.7%, respectively, while Dow Jones, shed 1123 points, booking its 10th consecutive day of losses, its longest losing streak since 1974. The Fed's widely anticipated rate cut to a target range of 4.25%-4.5% was overshadowed by its forecast of just two rate cuts in 2025, fewer than the four previously expected, which dampened investor sentiment. As the central bank lowered its forecast for the unemployment rate and raised expectations for core inflation and economic growth, Treasury yields surged, putting further pressure on stock prices. Semiconductors and healthcare sectors erased earlier gains, leaving all sectors in the red. Nvidia pared it earlier gains to fall 1.1%, while UnitedHealth rose 2.9%, recovering partially from a 20% loss following its CEO’s murder.