Speculation that the United States Federal Reserve will not cut interest rates much further saw a...
Speculation that the United States Federal Reserve will not cut interest rates much further saw a drop in stocks worldwide. While Federal policy makers will probably cut their benchmark interest rate to a seven-year low of 4% on Tuesday, US interest rate futures imply investors don't count on the Fed pushing the overnight rate any lower than that this year. The Footsie fell 78 points to 5818.8, led by drops from CMG Plc, Logica Plc, Marconi Plc and Colt Telecom Group Plc. Logica erased 47p to 833, CMG 205p to 374, Marconi 14p to 357p and Colt Telecom 25p to 811. In the banking s...
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