The Fed Cuts Rates, The Stock Market Plummets

Most of you would have thought “the Fed cuts rates, stocks are going to jump higher and higher.” Similar to what they’ve been doing over the past week or two. The stock market has been on the rise.

But today, when the Feds announced a quarter point cut stocks plummeted. I mean dropped like a rock, loosing almost 300 point overall. This after a morning of strong movement upwards.

Stocks like Google, GOOG, went from being up $5 to dropping nearly $20. Almost everything else followed suit, on the NASDAQ and the NYSE stocks just dropped.

The reason being, is because there was a general though that Feds would drop rates a half point and they didn’t. We’ll see how things rebound tomorrow.