The Federal Reserve cut interest rates for the first time in almost a decade as it attempted to protect the thriving US economy from increasing global risks. The stock market, in an immediate response, closed lower on the day, with the Dow Jones Index, the S&P 500 Index, and Nasdaq Composite Index each returning intraday losses.
Faraway from the mainstream, bitcoin was also showing signs of growth ahead of the Fed chair Jerome Powell’s press conference yesterday. While it closed the day 5 percent higher, its gains are now getting negated, showing that the impacts of Fed rate cut are…
Author: Davit Babayan