Market 09/17: FED Cuts Rate 0.25%

Key highlights:

• FED cuts rate 0.25% as expected

• Powell: “FED cut is to control risks”

• China stops buying expensive chips from NVDA

• Housing: Rates down, demand up, new construction breaks

• Gasoline and oil inventories turn sharply lower

• Japan trade deficit for 2nd consecutive month

• EU CPI August stable

• Markets: FOMC volatility but completely stable