The Federal Reserve cuts interest rates, the performance of the U.S. financial market and cryptocurrency market is being sorted out

Following the passage of a 50bp rate cut at the Federal Reserve's September 2024 interest rate meeting, feedback from mainstream financial markets varied:

1. Bank stocks rose across the board;

2. The yield on two-year U.S. Treasury bonds fell by 8 basis points in short term, now reported at 3.598%;

3. S&P 500 futures rose by 0.85%, Nasdaq futures increased by 1.3%, and Dow Jones Industrial Average futures went up by 0.51%;

4. Spot gold returned to $2560 per ounce, with an intraday increase of 0.03%;

5.In the crypto market, long positions worth $39,555,300 were liquidated within twelve hours while short positions worth $110 million were liquidated; 

6.Major cryptocurrencies in the market surged overall with Bitcoin breaking through $62,000 and Ethereum surpassing $2400.