The Federal Reserve finally gave the US what it wanted. Another rate cut, and one which came outside of the normal Federal Open Market Committee meetings that take place roughly every seven weeks. Stocks soared immediately the announcement was made at 11am on Wednesday April 18, with the Dow closing up 399 points and Nasdaq up 156. But within a week of April’s surprise cut, all Nasdaq’s gains had evaporated and much of the Dow’s had gone too.
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