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International Business Times
International Business Times
Business
Terry Massey

Dow Jones Drops 1,100 Points, Suffers Longest Losing Skid Since 1974 As Markets React To Rate Cut

Traders work on the floor of the New York Stock Exchange in New York City at the opening bell on Nov. 13, 2024. (Credit: ANGELA WEISS/AFP via Getty Images)

The Dow Jones Industrial Average broke a half-century record for futility on Wednesday, suffering losses for the 10th consecutive session on the heels of the Federal Reserve's 0.25% interest rate cut.

The Dow Jones dropped 1,123.03 points ( down 2.58%), a decline that was hastened by the Fed's decision to take a more cautious approach to interest rate cuts amid recent unfavorable inflation data and positive employment reports.

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