Stock Market Today: Dow falls over 100 points as stocks end volatile session lower after Fed’s half-point rate cut

U.S. stocks finished lower after choppy trading in the wake of the Federal Reserve’s decision to lower its benchmark interest rate by half a percentage point, an aggressive start to a monetary-easing cycle in the world’s largest economy.

The Dow Jones Industrial Average was off 103.08 points, or 0.3%, to end at 41,503.10, according to FactSet data. The blue-chip index logged its worst daily point and percentage declines since Sept. 6, after giving back its nearly 400-point advance seen in the immediate aftermath of the Fed decision.

The S&P 500 fell 16.32 points, or 0.3%, to finish at 5,618.26, snapping a seven-day winning streak.

The Nasdaq Composite lost 54.76 points, or 0.3%, ending at 17,573.30.

Apart from the rate-cut decision, policymakers said they expect to lower interest rates multiple times by the end of 2024. They also suggested the policy rate could fall to a range of 3.25% to 3.5% by the end of 2025, according to the Fed’s Summary of Economic Projections, also released Wednesday.