Dow Tumbles on Fed's Outlook Associated Press, 12/19 [๋์์]
The stock market had its second-worst day of the year today. The Dow dropped more than 1,100 points and the S&P dropped almost 3%. What happened was the Federal Reserve said it's no longer planning to make as many cuts to interest rates next year as it had thought previously. It had said it anticipated making four cuts next year in addition to the ones itโs already made over the past year. Now it's only going to make two. That matters because markets had been anticipating the cost of borrowing money to go down even more. Those lower rates help home buyers, businesses, credit card borrowers, student borrowers by making interest rates lower. Now those interest rates will go down but not as much. Markets don't like this. That means the economy will be slowed down a bit more in order to continue the Fed's fight against inflation and that's what happened today.
Dropped ๋์ฒดํ ์ ์๋ ํํ: fall sharply, Tumble, plummet ์ฃผ๊ฐ๊ฐ ํญ๋ฝํ๋ค. The stock price fell sharply. The stock price tumbled. The stock price plummeted.
Federal Reserve: ์ฐ๋ฐฉ์ค๋น์ ๋ ์ด์ฌํ, ์ฐ์ค (=Federal Reserve Board) ๋ฏธ๊ตญ์ ์ค์์ํ ์์คํ ์ผ๋ก, ๊ธ๋ฆฌ ์ ์ฑ ๊ณผ ํตํ ์ ์ฑ ์ ๊ด๋ฆฌํ๋ค. The Federal Reserve sets the interest rates to control inflation. ์ฐ๋ฐฉ์ค๋น์ ๋๋ ๋ฌผ๊ฐ๋ฅผ ํต์ ํ๊ธฐ ์ํด ๊ธ๋ฆฌ๋ฅผ ์ค์ ํ๋ค.
A man takes a selfie above Damascus' central Umayyad Square, after Hayat Tahrir al-Sham (HTS) rebels overthrew President Bashar al-Assad's regime and took control of large swathes of the country. Bakr Alkasem/ AFP