AdvertisementAdvertisementPeople pass the New York Stock Exchange on Nov. 5, 2024, in New York. (Photo: AP/Peter Morgan, File)18 Sep 2025 03:13AM (Updated: 18 Sep 2025 03:20AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST NEW YORK: World stocks edged lower in choppy trading while US Treasury yields fell across the board on Wednesday (Sep 17) after the Federal Reserve delivered a much-expected interest rate cut and signalled the start of a monetary policy easing cycle.The Fed cut rates by a quarter of a percentage point and indicated it will steadily lower borrowing costs for the rest of this year. Only new Governor Stephen Miran, who joined the Fed on Tuesday and is on leave as head of the White House’s Council of Economic Advisers, dissented in favour of a half-percentage-point cut.MARKET REACTIONBenchmark S&P 500 and the Nasdaq traded slightly lower while the Dow rose after the Fed’s announcement.The Dow Jones Industrial Average gained 0.56 per cent to 46,014.88. The S&P 500 fell 0.31 per cent to 6,585.98 and the Nasdaq Composite dropped 0.75 per cent to 22,162.03.MSCI’s gauge of stocks across the globe slid 0.14 per cent to 975.41, retreating from record highs.US Fed cuts rates by quarter point, signals steady reductions aheadDollar slips after Fed cuts ratesUS Fed set for first rate cut of 2025 as Trump pressure loomsTREASURY YIELDS FALLThe benchmark US 10-year note yield fell 1.5 basis points to 4.009 per cent.The two-year note yield, which typically moves in step with interest rate expectations for the Fed, fell 1.5 basis points to 3.495 per cent.Source: Reuters/fsSign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST