The Federal Reserve reduced interest rates by a quarter of a percentage point to 3.75%-4.00% in response to concerns about a weakening labor market. The decision was made following a two-day policy meeting, with the interest-rate futures market predicting a rate cut with 100% certainty. The FOMC cited elevated economic uncertainty and increased downside risks to employment as reasons for the move.

Read more at Dow Jones & Company: Fed Cuts Rates by a Quarter Point, as Expected