From the Dow Jones index rose more than 300 points to fell more than 300 points, a sharp drop of 600 points, a time when global investors panicked.
By the end of the day, the three major U.S. stock indices had closed down, with the Dow falling nearly 300 points, or 1.05%, the Nasdaq down 0.79%, and the S&P 500 down 0.90%.
In Dow stocks, Goldman Sachs fell about 3.9 percent, Nike fell about 3.4 percent, Dow Chemical fell about 3.3 percent, JPMorgan Chase, ExxonMobil,Apple,Intel Boeing fell more than 2%, only Johnson & Johnson, United Health, McDonald's, Visa, Merchant,MicrosoftIBM closed up.
In technology stocks, En Zhipu and Tesla fell more than 3%.Mei GuangTechnologies, Qualcomm, Invida, Apple and Intel all fell by more than 2%.AMDBroadcom and Neifei all fell by more than 1%, Amazon by more than 0.6%, and Microsoft by 1.31%.
On the news side, the Fed cut interest rates by 25 basis points, but Powell's speech weakened market expectations for future Fed rate cuts. Zhu Chaoping, global market strategist at Morgan Asset Management, believes that the future policy of the Federal Reserve will depend more on the trend of economic data. It is likely to break the previous practice of consecutive interest rate cuts and leave more bullets until the risk of growth becomes more apparent. There may be another interest rate cut before the end of this year, but in 2020. It can pause for a period of time, and then decide what to do next according to the trend of the economy and inflation.