Global investors cautious; UAE, GCC markets mixed

Global markets moved cautiously after the US Federal Reserve's second consecutive rate cut, as Chair Jerome Powell's warning that another move in December was “far from guaranteed” unsettled investors.

- BY JUSTIN VARGHESE

A television station broadcasts the Fed's decision to cut rates on the floor of the New York Stock Exchange.

(Bloomberg)

The initial reaction was mixed. US Treasury yields climbed, with the 10-year note rising above 4 per cent, marking its biggest single-day jump in nearly five months. The US dollar strengthened, while equities fluctuated through the day before stabilising later.