Replies to post #2191 on Comstock Inc (LODE)

[mkendra]

Stocks fall after Fed
Wall Street shows some disappointment that it got the quarter-percentage point cut it expected, rather than a bigger half-percentage point cut.





NEW YORK (CNNMoney.com) -- Stocks slipped Tuesday afternoon after the Federal Reserve cut the fed funds rate by a quarter-percentage point, in line with expectations, but short of some hopes for a half-percentage point cut.

The Dow Jones industrial average (Charts) lost 0.4 percent around five minutes after the 2:15 p.m. ET release of the Fed decision. The broader S&P 500 (Charts) index lost 0.6 percent. The tech-fueled Nasdaq (Charts) composite lost 0.6 percent.

As expected, the Fed's policy committee, meeting Tuesday opted to cut the fed funds rate by a quarter-percentage point, to 4.25 percent, after cutting rates at the last two meetings. The fed funds rate is a key short-term lending rate that affects consumer loans.

Treasury prices retained gains from before the statement was released, lowering the yield on the 10-year note to 4.09 percent from 4.15 percent late Monday. Treasury prices and yields move in opposite directions.