NEW YORK, July 31 (Reuters) - The Dow and S&P 500 suffered
their biggest daily percentage drops since May 31 on Wednesday
after the Federal Reserve cut interest rates for the first time
in a decade, but remarks by Fed Chair Jerome Powell dampened
expectations for further cuts going forward.
Based on the latest available data, the Dow Jones Industrial
Average .DJI fell 336.26 points, or 1.24%, to 26,861.76, the
S&P 500 .SPX lost 33.07 points, or 1.10%, to 2,980.11, and the
Nasdaq Composite .IXIC dropped 98.20 points, or 1.19%, to
8,175.42.