The Dow Jones Industrial Average fell hard with the index posting its 10th straight losing day as a disappointing rate outlook by the Federal Reserve rocked the stock market.

The Dow lost 1,123.03 points, or 2.58%, to 42,326.87, for its worst losing streak since an 11-day slide in 1974. The Wednesday decline was its worst since August and only the second time it lost 1,000 points this year in one session. 

The S&P 500 lost 2.95% to 5,872.16 and the Nasdaq Composite shed 3.56% to 19,392.69 with losses intensifying into the close of trading.

• Stocks tumble after Fed cuts rates, signals slower cut pace.
• Fed dials back rate cut expectations for 2025, market now pricing in two 25bp cuts.
• ASX to drop, $A plunges as Fed signals rate pause near – AFR.
• Treasuries slide and US dollar jumps to highest since 2022 on more hawkish than expected Fed SEP.
• BOJ meets for final rate review this year as Trump risk clouds outlook.
• US EPA approves California plan to ban sale of gas-only cars starting in 2035.

ASX SPI down 123 - Gold falls 2% - Bitcoin drops.

• Oil settles up after US crude stocks fall, Fed's 2025 outlook curbs gains.
• Gold hits one-month low after Fed signals slower easing pace in 2025.
• Copper edges up after hitting two-week low.
• Iron ore slips as supply worries ease, demand slows.
• Barrick Gold seeks arbitration over Mali gold mine dispute.
• US crude stocks fell last week as exports jumped, EIA says.
• Despite revamped proposals, Nippon Steel deal on track to be blocked, letter says.

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