- Stocks tumbled Wednesday after the Federal Reserve cut its key rate by 0.25% to 4.25%-4.5% and signaled just two rate cuts in 2025, down from the four previously projected. Chair Jerome Powell described the decision as a “closer call” but deemed it appropriate, reflecting a cautious approach to further easing.
- The Bank of England held rates steady Thursday, surprising markets with three members voting for a cut as inflation rose. Meanwhile, the Bank of Japan maintained its benchmark rate at 0.25% in an 8-1 split decision, defying expectations of a hike.
- Micron shares dropped 12% after issuing weak second-quarter guidance, despite first-quarter revenue meeting expectations and earnings surpassing estimates.
