Fed keeps rates steady, major indexes close lower with Dow and Nasdaq dropping

From Nasdaq: 2025-01-29 16:21:59

The U.S. Federal Reserve kept interest rates unchanged, citing stable unemployment and market conditions. Major indexes closed lower, with the Dow and Nasdaq dropping triple digits. Nvidia stock fell after reports of potential chip sales restrictions to China. Starbucks stock rose post-earnings, while DeepSeek rival saw gains. X secures a new partnership, Moderna stock downgraded, and big names could see post-earnings rallies.

The federal funding freeze causing panic was reversed, easing concerns for non-profits and government programs. The Trump administration offers buyouts for federal employees, expecting around 10% to accept. Elon Musk’s X secures a new partnership, Moderna stock faces concerns over vaccine revenue, and big names could see post-earnings boosts.

Crude futures fell after a weekly rise in supplies, with WTI crude dropping to $72.62 per barrel. Gold prices inched up despite the Fed’s decision to keep rates steady, as tariff threats and higher U.S. dollar and bond yields remained in focus. Gold settled around $2,779.80 an ounce.



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