The Fed cut interest rates as expected by a quarter of a percentage point to a target range of 4.25-4.5%, but was assumed to cut rates only twice in 2025, less than the four rate cuts forecast at the last interest rate meeting.

The three major US stock indices dropped like dominoes at the end of the trading day. The DJIA began to nosedive rapidly one hour before the close, with a slump of more than 1,000 pts, and closed at its lowest point for the day, down 1,123 pts or 2.6%, at 42,326, recording its first 10 consecutive days of decline since 1974.

The S&P 500 and Nasdaq also saw their downswing aggravate in the closing stages. The S&P 500 closed 178 pts, or 3%, lower at 5,872, while the Nasdaq closed 716 pts, or 3.6%, lower at 19,392, sinking below the 20,000-mark.

There is slimmer hope for interest rate cuts in 2025, and correspondingly interest-sensitive technology stocks plummeted. Nearly all of the 100 constituents of the Nasdaq cascaded. Tesla (TSLA.US) also lost ground in the late market and ultimately closed more than 8% lower, being the second worst performer. Broadcom (AVGO.US) slipped about 7%. Amazon (AMZN.US), Microsoft (MSFT.US), Meta (META.US) and Alphabet (GOOG.US) tumbled 3-5%. Nvidia (NVDA.US) also closed down 1.1%.
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AAStocks Financial News
Web Site: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
Nvidia (C)	10447	175 (-)	0.106	5.3 X
Nvidia (C)	10405	160 (-)	0.114	5.7 X
Nvidia (P)	10448	123 (-)	0.213	3.3 X
Nvidia (P)	10300	110 (-)	0.099	4.7 X
TSLA (C)	10493	620 (-)	0.660	3.6 X
TSLA (C)	10469	440 (-)	1.390	2.9 X
TSLA (P)	10494	320 (-)	0.495	2.6 X
TSLA (P)	10468	250 (-)	0.188	3.2 X
AMZN (C)	10406	220 (-)	0.345	5.8 X
AMZN (P)	10449	174 (-)	0.114	5.1 X
MSFT (C)	10367	500 (-)	0.132	11.9 X
MSFT (P)	10421	344 (-)	0.094	8.1 X
META (C)	10440	700 (-)	0.560	5.9 X
META (P)	10436	480 (-)	0.265	5.9 X