Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared with the 25 basis point reduction for the benchmark funds rate.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread more
The Federal Reserve dialed up its growth expectations slightly while keeping its inflation projection unchanged.Marketsread more
This is a comparison of Wednesday's FOMC statement with the one issued on July 31 after the Fed's previous policymaking meeting.The Fedread more
Ahead of the Fed's 2 p.m. announcement, many economists were forecasting one further cut in 2019, but some investors were hoping for two more this year.The Fedread more
The Fed has become increasingly divided, with three officials voting against the Fed's quarter-point cut to the fed funds target rate range.Market Insiderread more
For consumers, lower rates do mean cheaper loans, which can impact your mortgage, home equity loan, credit card, student loan tab and car payment. n the flip side, you'll earn...Personal Financeread more
Gold edged lower on Wednesday but held about the key $1,500 per ounce level after the U.S. Federal Reserve decided to cut interest rates.Futures & Commoditiesread more
Shares in Asia Pacific were mixed on Thursday following an overnight decline on Wall Street.
"You already have significant political risk premium embedded into Hong Kong equities because of the trade effects that are going on and Hong Kong is the gateway to China. So the outlook for China has taken a knock in the past month or so," Binay Chandgothia, managing director and portfolio manager at Principal Global Investors, told CNBC's "Squawk Box" on Thursday.
"Add to that the possibility that something wrong could happen in terms of the ongoing protests. Then you could see Hong Kong equities get cheaper," Chandgothia said, adding that valuation levels in the Hong Kong markets are "fairly attractive" at present.
Mainland Chinese stocks were higher on the day, with the Shanghai composite up slightly to 2,910.74 and the Shenzhen component rising fractionally to 8,951.61. The Shenzhen composite also advanced 0.287% to 1,532.79.
Elsewhere, Japan's Nikkei 225 slipped 0.46% to close at 21,032.00, as shares of Apple supplier Japan Display plummeted 11.94% after the company announced new restructuring plans, with the company's president and CEO set to step down. The Topix index also declined 0.82% to finish its trading day at 1,541.50.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.36%, as of 4:11 p.m. HK/SIN.
Overnight on Wall Street, the Dow Jones Industrial Average slipped 43.68 points to close at 26,004.83 while the S&P 500 ended its trading day 0.2% lower at 2,879.84. The Nasdaq Composite lagged, sliding 0.4% to close at 7,792.72.
Wednesday's declines stateside came following muted trading action in the previous session. The Dow closed marginally lower on Tuesday, ending a six-day winning streak.
Oil prices plunged on Wednesday following data that showed an unexpected increase in U.S. crude inventories for the second week in a row, against the backdrop of fears that fuel demand could weaken amid the U.S.-China trade fight.
U.S. West Texas Intermediate crude futures plunged $2.13 to $51.15 per barrel, tumbling 4% on the day to a new five-month low. Brent crude, the international benchmark for oil prices, fell $2.32 or 3.7%, at $59.97 a barrel, its first settle below $60 since January.
During Asian trading hours on Thursday afternoon, oil prices bounced from the previous day's losses on reports of tanker explosions in the Gulf of Oman. U.S. crude futures jumped 2.44% to $52.39 per barrel, while Brent surged 2.62% to $61.54 per barrel.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.934 after rising from levels around 96.6 yesterday.
The changed hands at 108.31 against the dollar after touching levels above 108.5 earlier. while the traded at $0.6913 after slipping from the $0.696 handle yesterday.
— CNBC's Fred Imbert and Tom DiChristopher contributed to this report.