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July 9, 2019

Stocks drop as traders weigh odds for steep Fed rate cut

By ALEX VEIGA
AP Business Writer

Technology and health care companies drove U.S. stocks to a lower finish Monday as the market fell for a second straight day following a run of record highs.

The selling came amid growing speculation on Wall Street that an unexpectedly strong pickup in U.S. employment growth last month may keep the Federal Reserve from aggressively cutting its benchmark interest rate. Many investors still expect a cut of a quarter percentage point, but fewer are now expecting a half-point reduction.


 
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