Category: Clobbered
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Dow, S&P 500, Nasdaq clobbered as Fed, Powell signal fewer rate cuts in 2025
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Stocks were clobbered Wednesday after the Federal Reserve, despite slashing interest rates by 25 basis points, signaled it would cut fewer times next year than previously projected. All three major reversed gains following the decision to end with steep losses. The Dow Jones Industrial Average (^DJI) was down about 2.6%,…