Nasdaq soars, Dow flat as Fed slashes rates by 25 bps

2:15pm: Fed slashes rates The Federal Reserve lowered its benchmark interest rate by 0.25 percentage points, setting a new target range of 4.5% to 4.75%. The unanimous decision, made at the end of a two-day policy meeting in Washington, DC, came shortly after Donald Trump’s presidential election victory. 12:45pm: Trump victory sparks optimism The Nasdaq extended its gains on…