Fed’s Rate cut by 25 bps : Global Markets expect more

The much awaited and expected rate cute by the Federal Reserve has been announced yesterday, and the Fed cut the rate by 25 basis points. US Stock Markets reacted and the markets crashed around 3 per cent expecting bigger discount rate from Fed. Indian ADRs closed down with Satyam down 7 per cent, WIPRO and VSNL going dwown by 5 per cent, Banks like ICICI and HDFC down 2 to 3 per cent.

Asian Markets also reacted, with Hang Seng down over 3 per cent , Nikkeia down 295 points, Taiwan Index down over 170 points. It would be interesting to see how Indian Stock Markets would react to the Fed rate cut.

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