The Federal Reserve cut interest rates as expected, and the Dow is set to record its longest losing streak in 50 years

ChainCatcher news, the Federal Reserve has lowered interest rates by 25 basis points as expected, indicating that the pace of rate cuts will slow down. The U.S. stock market fell, erasing earlier gains.

The Dow Jones Industrial Average is set to decline for the 10th consecutive trading day, which would mark the longest streak of daily declines since October 1974, when it fell for 11 consecutive days. All 11 major sectors of the S&P 500 are down, with real estate leading the decline.

Higher interest rates are generally seen as a drag on the stock market, increasing the attractiveness of lower-risk assets while suppressing companies' ability to grow earnings. (Jin Shi)