Pre-Market Report – Thursday 19 September: Fed cuts by 50bps | US markets fall

The Dow Jones Industrial Average slid 103.08 points, or 0.25%, to end the day at 41,503.10. It was up as much as 375.79 points just after the Fed decision.The S&P 500 lost 0.29% and closed at 5,618.26. The Nasdaq Composite dropped 0.31% to 17,573.30. The S&P 500 and the Dow both touched records initially before falling back.The Fed lowered its overnight lending rate to a range of 4.75% to 5.00% from 5.25% to 5.5%, the first rate cut in four years as inflation levels ease from the levels seen two years ago.ASX SPI Futures down 39 pointsCOMMODITIESBarrick Gold suspends operations at Papua New Guinea mine after violence kills at least 20US decision on Nippon bid for US Steel pushed back to after Nov election, sources sayGold retreats as dollar, yields climb after Fed's Powell commentsUS crude oil stockpiles dipped to their lowest level in a year last week, while fuel inventories roseCopper creeps higher ahead of expected US rate cutIron ore posts steepest daily fall in nearly two yearsWhy not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.