Stock Market This Week: Rate Cut Sell-Off, BTC Below $100K, MU Plunges
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The stock market experienced a sell-off following the Federal Reserve's announcement of a 25 basis point rate cut, with a slower pace of cuts projected for 2025. Despite a rebound rally on Friday, the market did not fully recover. Micron Technology (MU) saw a significant plunge.
December 20, 2024 | 10:30 pm
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Micron Technology (MU) experienced a significant plunge in its stock price following the Federal Reserve's announcement of a 25 basis point rate cut and a slower pace of cuts for 2025.
The Federal Reserve's announcement of a rate cut and slower future cuts likely impacted investor sentiment negatively, leading to a sell-off in Micron Technology's stock. The market's overall negative reaction to the Fed's outlook contributed to MU's plunge.
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