In the process, the blue-chip index extended its losing streak to 10 days — the longest such stretch since Gerald Ford was president. The Dow has lost less than 6% in its long losing streak, a relative blip. The S&P 500 fell 3% and the Nasdaq Composite index fell 3.6%. Investors expected the Fed to cut rates by a quarter point Wednesday, which is exactly what the central bank did. Nvidia, the US chipmaker that joined the Dow in November, has also dragged the 30-stock index lower.

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Persons: Gerald Ford, Dow, ” Jay Hatfield, Jerome Powell’s, ”, Chris Zaccarelli, UnitedHealth, giant’s selloff, Brian Thompson Organizations: New, New York CNN, Dow, Federal Reserve, Dow Jones, Nasdaq, Investors, Infrastructure Capital Advisors, Asset Management, Nvidia Locations: New York