Federal Reserve Rate Cut, US Financial and Cryptocurrency Market Performance Summary
Article is form Jinse
September 19, 2024
This article is translated by ChatGPT Show original
Gold Finance reports that the mainstream financial markets have reacted differently to the Federal Reserve's decision to cut interest rates by 50 basis points at its September 2024 meeting:
- Bank stocks rose across the board.
- The yield on the 2-year US Treasury note fell by 8 basis points, currently at 3.598%.
- The S&P 500 futures rose 0.85%, the Nasdaq futures rose 1.3%, and the Dow Jones futures rose 0.51%.
- Spot gold returned to $2560 per ounce, up 0.03% on the day.
- The crypto market saw $39.55 million in long positions liquidated and $110 million in short positions liquidated over 12 hours.
- Major cryptocurrencies rallied across the board, with Bitcoin breaking through $62,000 and Ethereum breaking through $2,400.
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