Thursday 1 August 2019

Asian Shares Fell To Six Week Lows On Thursday And The Dollar Rose

Asian shares fell to six-week lows on Thursday and the dollar rose after the US Federal Reserve delivered a 25-basis-point rate cut as expected but poured cold water on market expectations of a lengthy easing cycle.

The Dow and S&P 500 registered their biggest daily percentage drops in two months on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for further cuts following the central bank's first interest rate cut in a decade.

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