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Investors pulled a net $50.2 billion from U.S. equity funds in the week ending Dec. 18, according to LSEG Lipper data, the biggest net outflow since Sept. as they cashed in profits from a market rally ahead of the Fed policy decision. The Fed cut rates as expected on Wednesday but projected fewer-than-expected interest rate cuts and higher inflation next year, while Chair Jerome Powell explicitly referred a need for caution, prompting a sell-off in equity markets.

The benchmark US stock measures were tracking in the red before Friday's open as traders await the p

News of the day for Dec. 20, 2024

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The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty. The Federal Reserve now sees inflation as staying stubbornly elevated as it has become cautious about further interest rate cuts planned for next year. On Wednesday, Trump blew up a bipartisan budget deal, which means the government could shut down after midnight Saturday.

As the Federal Reserve's rate cut and revised inflation outlook send bitcoin tumbling below $100K, the cryptocurrency market faces widespread sell-offs. Simultaneously, groundbreaking athlete endorsements, a surge in phishing scams, and legislative moves like Ohio's Bitcoin Reserve Act highlight crypto's pendular behavior.

The exchange-traded funds lost a record $671.9 million as bitcoin extended post-Fed losses below $100,000.