Now, worries are rising the Fed may have kept its main interest rate at a two-decade high for too long. (AP Photo/Richard Drew) via Associated PressTraders gather at the post of specialist Stephen Naughton, right,on the floor of the New York Stock Exchange, Friday, Aug. 2, 2024. (AP Photo/Richard Drew) via Associated PressTraders are now betting on a 70% probability that the Fed will cut its main interest rate by half a percentage point in September, according to data from CME Group. The Russell 2000 index of smaller stocks dropped 3.5%, more than the rest of the market. It’s been struggling since the Bank of Japan raised its benchmark interest rate on Wednesday.

Source: Huffington Post August 03, 2024 06:46 UTC