Media Stocks, Markets Plunge On Interest Rate Jitters, Dow Drops 1,100 Points
Now, Fed officials anticipate two cuts in 2025 instead of the four that were expected in September. Rates rose dramatically over two years to tamp down rampant inflation. The S&P 500 lost about 3% and the Nasdaq plunged 3.56%. Getty Roku fell 5.8%;Netflixwas down by 3.2%; Comcast by 2.24% andDisneyby 1.4%. The dollar hit its highest point in two years against a basket of currencies. High rates arent great for companies with already high high debt, and crimps borrowing by companies and consumers....