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2h ago

Stocks Slip From Records After Fed Cut as Spain Sells Off and China Holds Rates

Investors reassess the Fed’s risk‑management cut, prompting profit-taking.

Varios paneles del Ibex 35, en el Palacio de la Bolsa, en Madrid.
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Japón fue la excepción al resto y cerró al alza. 

Overview

  • Wall Street opened lower Monday, with the Dow down 0.53%, the S&P 500 off 0.18%, and the Nasdaq down 0.10% shortly after the bell.
  • Spain’s Ibex 35 fell about 1% at the open, led by bank declines including Sabadell (-4.4%), BBVA (-2.8%), Bankinter (-2.2%), and Unicaja (-2.1%).
  • The People’s Bank of China left its loan prime rate unchanged at record-low levels, signaling a policy stance that contrasts with U.S. easing.
  • U.S. benchmarks closed at fresh records on Friday after the Federal Reserve cut rates to 4.00%–4.25%, a move Chair Jerome Powell described as a risk‑management adjustment.
  • President Donald J. Trump reported progress in talks with China, citing discussions on trade, fentanyl, the Russia‑Ukraine war, and approval of a TikTok deal.