Global Markets React to Central Bank Rate Changes

Global stocks fell as central banks cut interest rates. The European Central Bank lowered rates for the fourth time this year to combat economic struggles. Meanwhile, the Swiss National Bank made its largest rate cut in nearly a decade. Markets anticipate U.S. and ECB rate changes.

Global stocks experienced a downturn and major Wall Street indexes declined following the European Central Bank's decision to cut interest rates for the fourth time this year, amidst economic challenges and political risks.

The Swiss franc weakened after the Swiss National Bank announced its largest rate reduction in nearly a decade. This move coincided with the U.S. Labor Department's report of a 0.4% increase in the producer price index, which surpassed expectations.

Amid these developments, oil prices fell over 1%, and markets predicted further rate cuts from the Federal Reserve and ECB. Notably, emerging market stocks and U.S. benchmark 10-year note yields rose slightly.

(With inputs from agencies.)