ASX 200 drops after U.S. Fed rate cut

The Australian stock market experienced a significant downturn, with the ASX200 index shedding 141.2 points (-1.7%) to close at 8,168 points. This decline followed the U.S. Federal Reserve’s decision to cut interest rates by 0.25 percentage points, while indicating fewer rate reductions in the coming year due to expectations of prolonged higher inflation. Every sector…