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US stocks tumble amid skepticism of Fed rate cuts

by French Press Agency - AFP

NEW YORK Mar 04, 2020 - 12:22 am GMT+3
Traders work on the floor of the New York Stock Exchange in New York, New York, USA, 03 March 2020. (EPA Photo)
Traders work on the floor of the New York Stock Exchange in New York, New York, USA, 03 March 2020. (EPA Photo)
by French Press Agency - AFP Mar 04, 2020 12:22 am

Wall Street stocks finished sharply lower Tuesday, reflecting skepticism at a surprise Federal Reserve interest rate cut while the 10-year US Treasury hit an all-time low.

The Dow Jones Industrial Average ended at 25,917.41, down 2.9 percent, a loss of nearly 800 points.

The broad-based S&P 500 sank 2.8 percent to finish the day at 3,003.37, while the tech-rich Nasdaq Composite Index slid 3.0 percent to 8,684.09.

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