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Fed Cuts Rate In Conjunction with Europe

ARI SHAPIRO, Host:

NPR's Business News starts with the Fed cutting interest rates. This is the latest dramatic attempt to steady financial markets. The Federal Reserve cut a key interest rate by half a percent this morning. The Fed coordinated its actions with central banks in Europe which also cut rates. The leading U.S. stock embassies are all slightly higher now, but the rate cut comes after huge tumbles in Asian stock markets today. Japan's main index plunged nearly 10 percent. Transcript provided by NPR, Copyright NPR.

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