US: Stocks tumble amid scepticism of Federal Reserve rate cuts

[NEW YORK] Wall Street stocks finished sharply lower Tuesday, reflecting skepticism at a surprise Federal Reserve interest rate cut while the 10-year US Treasury hit an all-time low.

The Dow Jones Industrial Average ended at 25,917.41, down 2.9 per cent, a loss of nearly 800 points.

The broad-based S&P 500 sank 2.8 per cent to finish the day at 3,003.37, while the tech-rich Nasdaq Composite Index slid 3.0 per cent to 8,684.09.

AFP