Typically the goal of the plunge protection team is to manipulate market prices to prevent/minimize crashes.
The deep state is manipulating markets to influence the fed, to cut rates moreso, so then there can be lower interest rates for the next four years with low cost of loans for cars and homes, to have a debt bubble from lower interest rates.
Dow Jones Today: Stocks Tumble After Fed Cuts Key Rate But Scales Back Expectations for Future Reductions
By Stephen Wisnefski
Updated December 18, 2024
03:08 PM EST
Traders work on the New York Stock Exchange
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Stocks fell sharply Wednesday after the Federal Reserve cut its benchmark lending rate, as had been expected, but indicated it will slow down the pace of future reductions.
The Dow Jones Industrial Average was down 1.2% in recent trading, while the S&P 500 and Nasdaq Composite fell 1.5% and 2%, respectively. The major indexes stumbled yesterday, with the Dow finishing lower for the 9th straight session, marking its longest daily losing streak since 1978.
Market participants are keeping a close eye on Fed Chair Jerome Powell's press conference, which is ongoing. Investors are looking for more color on views of Fed officials about the health of the economy and how those could affect decisions on interest rates.
The yield on 10-year Treasurys, which is tied to expectations about where interest rates are headed, rose to 4.50%, up from 4.39% before the Fed's announcement.
Large-cap technology stocks were mostly lower this afternoon, as Apple (AAPL), Tesla (TSLA), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta Platforms (META) and Broadcom (AVGO) all lost ground. AI investor favorite Nvidia (NVDA) was up about 2%, though down substantially from earlier gains, as the stock looks to recover after falling into technical correction territory in recent days.
Shares of Micron (MU) were down 2%, giving back earlier gainsm ahead of the scheduled release after the closing bell of the chipmaker's quarterly earnings report.
https://www.investopedia.com/dow-jon...182024-8763276