Wall Street remained close to all-time highs following the Federal Reserve’s decision to stave off a potential recession by implementing a larger-than-expected cut to interest rates. Despite the significant move by the Fed, the market’s reaction was relatively muted on Wednesday, with the S&P 500 slipping 0.3%, the Dow Jones Industrial Average falling 0.2%, and the Nasdaq Composite declining by 0.3%.

The anticipation of the Fed’s first interest rate cut in four years, coupled with the already substantial market adjustments in anticipation of the move, contributed to the relatively modest response on Wall Street. Treasury yields experienced a slight increase as a result of the Fed’s decision.

Specifically, on Wednesday, the S&P 500 dropped by 16.32 points to 5,618.26, the Dow Jones Industrial Average fell by 103.08 points to 41,503.10, and the Nasdaq Composite decreased by 54.76 points to 17,573.30. Conversely, the Russell 2000 index, representing smaller companies, saw a marginal increase of 0.86 points to 2,206.34.

Looking at the weekly performance metrics, the S&P 500 faced a decline of 7.76 points (or 0.1%), the Dow witnessed an increase of 109.32 points (or 0.3%), the Nasdaq encountered a decrease of 110.68 points (or 0.6%), and the Russell 2000 recorded a rise of 23.85 points (or 1.1%).

Year-to-date figures show a positive performance across the board, with the S&P 500 up by 848.43 points (or 17.8%), the Dow rising by 3,813.56 points (or 10.1%), the Nasdaq increasing by 2,561.95 points (or 17.1%), and the Russell 2000 climbing by 179.26 points (or 8.8%).