The Dow reversed its gains for the day after the FOMC released a decision to cut target rates by 25 basis points.
The rate cut was expected, but the Fed's dot plot and economic projection were worse than last time: the committee only expects two cuts next year and a PCE inflation rate to fall to 2.5% by the end of 2025, instead of the previously hoped for 2.1%.
After the news, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.48%, the $Nasdaq Composite Index (.IXIC.US)$ fell 0.44%, and the $S&P 500 Index (.SPX.US)$ fell 0.45%.
After falling into correction territory, $NVIDIA (NVDA.US)$ has turned things around and is trading 3% higher. $Broadcom Inc (AVGO.CA)$ fell 4.25%.
In other stock news, $Nissan Motor (ADR) (NSANY.US)$ shares jumped more than 20% on news of a possible merger with $Honda Motor (HMC.US)$ . Honda shares are off 2.6%.
