BlockBeats reports that on December 19, the Federal Reserve lowered interest rates by 25 basis points as expected, indicating that the pace of rate cuts will slow down. The U.S. stock market fell, erasing earlier gains.
The Dow Jones Industrial Average is set to decline for the 10th consecutive trading day, marking the longest streak of daily declines since October 1974, when it fell for 11 straight days. All 11 major sectors of the S&P 500 have fallen, with real estate leading the decline.
Higher interest rates are often seen as a drag on the stock market, increasing the attractiveness of lower-risk assets while suppressing companies' ability to boost earnings. (Jinshi)