Last week, the Federal Reserve cut interest rates for the first time in more than a decade, in line with Wall Street’s expectations. Ironically, stocks had their worst week of 2019.
The S&P 500 finished the week 3.10% lower. The Dow Jones Industrial Average and the Nasdaq Composite also posted weekly losses; the blue chips fell 2.60%, while the premier tech benchmark slumped 3.92%. International stocks tracked by MSCI’s EAFE index dipped 1.06%.1-3
1 – apnews.com/e15c18b9dbc44efab400d2214e2cb6f9 [8/2/19]
2 – wsj.com/market-data [8/2/19]
3 – wsj.com/index/XX/990300/historical-prices[8/2/19]