US stock markets tanked as US federal reserve cuts interest rates by 0.25%

Washington [US], December 19 (ANI): The US Federal Reserve in continuing the rate cut cycle cut the interest rate by 25 basis points, according to an official statement following the key FOMC meeting.

The US Federal Reserve has lowered its target range for the federal funds bringing it down to 4.25 per cent- 4.5 per cent.

It said "In support of its goals, the Committee decided to lower the target range for the federal fun