Fed Cuts Rate 0.75 Percentage Point in Emergency Move

The Federal Reserve lowered its benchmark interest rate in an emergency move for the first time since 2001 after stock markets tumbled from Hong Kong to London and the U.S. economy showed increasing signs that it's headed into a recession.

The dollar fell and Treasury securities rallied after the announcement. Stocks slumped as some investors questioned whether the Fed would be able to avert a recession, and then recouped more than half the losses. The Standard & Poor's 500 Index fell 1.5 percent to 1,304.96 at 10:30 a.m. in New York, after dropping as much as 3.8 percent earlier.

Yesterday / Today, almost half of the world's biggest stock indexes fell into a bear market as mounting concern about a U.S. recession dragged down banking and retail shares across Asia, Europe and Latin America.



NOTE: Though FED CUT 75 BPS, Seems Stil Not Enough, DOW -420, Tonight Close of DOW in + ve is Very Important For Our Markets, Cant Say Anything About Markets Till Tonight DOW Closes.........