The Fed cuts interest rates as expected, and the Dow Jones is expected to record its longest losing streak in 50 years

BlockBeats news, on December 19, the Federal Reserve cut interest rates by 25 basis points as expected, suggesting that the pace of rate cuts will slow down, and U.S. stocks fell, erasing earlier gains.

The Dow Jones Industrial Average is expected to fall for the 10th consecutive trading day, which will be the longest single-day losing streak since it fell for 11 consecutive trading days in October 1974. All 11 major sectors of the S&P 500 fell, 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 inhibiting companies' ability to increase earnings. (Jinshi)