From Marketwatch this morning:
LONDON (MarketWatch) — U.S. stock futures moved off early lows on Tuesday after the Federal Reserve stepped in with an emergency rate cut, attempting to limit the risks of a recession after huge selling in overseas markets.
S&P 500 futures fell 35.3 points to 1,288.00 and Nasdaq 100 futures were down 43.5 points to 1,806.00. Dow industrial futures traded 298 points lower.The Federal Reserve cut its overnight lending rate by 75 basis points to 3.50%, the Fed announced Tuesday.
"The committee took this action in view of a weakening economic outlook and increasing downside risks to growth," the Federal Open Market Committee said in a statement. Downside risks to growth remain. The committee met on Monday evening.
