ASX and AUD plummet following US rate cuts

Moomoo Chief Commercial Officer Michael McCarthy discusses how the rate cuts in the US affected the Australian markets. The ASX and the Australian dollar plummeted after the US Federal Reserve cut interest rates yet again. “One of the key factors here is the adjustment of expectations,” Mr McCarthy told Sky News Australia. “The selling that we saw in the US flowed straight into our markets … and that selling hit every market across the Asia Pacific region.”