Investors worry Fed's rate cut might be a one-off
Wall Street's three indices and most Asian markets finish lower, but analysts say it's only a knee-jerk reaction
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Singapore
THE US Federal Reserve has surprised few by delivering a 25 basis point cut - its first in 11 years - following its July meeting.
US investors were instead more bothered by the apparent hawkish tone in Federal Reserve chairman Jerome Powell's speech, in which he said that he viewed the rate cut as part of a mid-cycle adjustment rather than the start of a long easing cycle.
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