In the final trading hours after the statement, trading was volatile – the indices went up and down. At the close, the broad S&P 500 index was unchanged, while the Dow Jones industrial average was down 0.2 percent and the tech-heavy Nasdaq composite index had risen 0.6 percent.
Prior to that, the Federal Reserve announced – as expected – that it would cut its key interest rate by 0.25 percentage points. It was the second cut this year, but Powell warned that it might not be followed by another cut later this year.
Among individual companies, processor giant Nvidia can be mentioned. The stock rose 3.0 percent after the company reached the dream threshold of $5 trillion in market capitalization. Nvidia shares have risen by almost 50 percent this year alone.
