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Stocks are dropping as traders fear a shift in the Fed’s rate cutting stance

July 9, 2019

World stocks dropped on Tuesday as investors braced for the Federal Reserve to signal it could temper or scrap expected cuts to interest rates this month. German equities tumbled after a BASF profit warning dragged on sentiment.

Traders will be listening intently to Fed Chair Jerome Powell’s speech at the Boston Fed today for signs the central bank is shifting its stance back from “act as appropriate” to “patient.”

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