Dow Drops 300 After Fed Cuts Rates

Dow Drops 300 After Fed Cuts Rates

Tuesday, December 11, 2007 3:55 PM Article Font Size

NEW YORK -- The Dow Jones industrial average has plunged more than 300 points as investors disappointed by the Federal Reserve's rate cut sold off stocks. In late afternoon trading, the Dow is down 303.61 to 13,423.42. The Fed lowered its benchmark interest rate by 0.25 percentage points, disappointing some investors who hoped the central bank would take more aggressive measures. The Dow Jones industrial average, which had been up about 40 points before the decision, fell 300 points. http://www.newsmax.com/newsfront/Dow_Drops_300_After_Fed_C/2007/12/11/56119.html