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| Version 0 | Version 1 |
|---|---|
| Shares fall despite US rate cut | Shares fall despite US rate cut |
| (10 minutes later) | |
| US and Asian shares have fallen sharply, despite the interest rate cut from the US Federal Reserve. | US and Asian shares have fallen sharply, despite the interest rate cut from the US Federal Reserve. |
| The third cut in as many months took the rate from 4.5% to 4.25%, but that had been factored in by the markets and many had been hoping for a bigger cut. | The third cut in as many months took the rate from 4.5% to 4.25%, but that had been factored in by the markets and many had been hoping for a bigger cut. |
| The Dow Jones fell 294.3 points or 2.1% to close at 13,432.8, while the Nikkei 225 in Tokyo closed down 112.5 points or 0.7% to 15,932.3. | |
| European stock markets are now expected to open lower. | European stock markets are now expected to open lower. |
| By the end of the morning session in Hong Kong, the benchmark Hang Seng index had fallen 2.3% to 28,550.3. | By the end of the morning session in Hong Kong, the benchmark Hang Seng index had fallen 2.3% to 28,550.3. |
| In New York, the technology-heavy Nasdaq fell 2.5% or 66.6 points to close at 2,652.4. | |
| "The action on Wall Street was very much knee-jerk on the disappointment of not getting a 50 basis point cut," said Craig James at Commonwealth Securities. | |
| "Investors will get over it, but for today at least it will be a case of following the negativity," he added. |