World markets mixed after Fed's historic rate cut

Posted on by The INO.com Team

World markets mixed after Fed's historic rate cut

By LOUISE WATT Associated Press Writer

(AP:LONDON) World stock markets were mixed Wednesday after the U.S. Federal Reserve slashed its key interest rate to historic lows and as worries lingered about the world's largest economy and a weakening dollar.

By afternoon in Europe, Britain's FTSE 100 was up 0.19 percent to 4,317.41, while Germany's DAX slipped 0.67 percent to 4,698.31. France's CAC-40 dropped 0.33 percent to 3,240.95, with shares in BNP Paribas plunging around 16 percent after the bank revealed steep losses in investment banking.

U.S. stocks were expected to be lower after rallying on the Fed rate cut Tuesday. Dow Jones industrial average futures were down 1.28 percent to 8,777.00 and the broader Standard & Poor's 500 index futures were down 1.44 percent to 899.70.

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2 thoughts on “World markets mixed after Fed's historic rate cut”

  1. Do you believe that the markets will re-test bottoms or has the weekly buy signals negated that possibility? A week or so ago you thought we would head even lower, but charts don't seem to look that way now. Your thoughts based on your technology? Thanks.

    Antonio,

    Thanks for your feedback.

    MarketClub's Trade Triangle Technology is in a neutral mode at the moment. However the longer-term picture is still pointed lower. We are on the sidelines waiting for either a new direction (upside on the monthly Triangles) this I don't see any time soon, or a resumption of the downtrend which I believe will be more likely.

    Thanks,
    Adam

  2. How much more can they Adam? Really, how much more can they do, a phone call to the Chinese, please buy our Treasuries?

    Ray,

    Thank you for your feedback. The Fed has rolled the dice and I don't know if it's in the come out a winner on not. Only time will tell.
    Adam

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