Bumpy ride on Wall Street as Fed cuts interest rate
- NECN
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Bumpy ride on Wall Street as Fed cuts interest rate
(NECN: Peter Howe) - It has been a roller coaster ride on Wall Street today. The Dow was up one moment and down the next. Investors are digesting news of an emergency interest rate cut by the Fed and six other world banks. The move was meant to calm investors who are worried about stagnant credit markets. The Federal Reserve has ordered an emergency interest rate cut of half a percentage point, knocking the key rate to 1.5 percent. The Fed was joined in a coordinated action by the European Central Bank, the Bank of England, and the banks of Canada, Sweden, read more
NECN | October 8, 2008
