the stock market had its second worst day of the year today the Dow dropped more than 1100 points and the S&P dropped almost 3% what happened was the Federal Reserve said it’s no longer planning to make as many cuts to interest rates next year as it had thought previously it had said it anticipated making four Cuts next year in addition to the ones it’s already made over the past year now it’s only going to make two that matters because marcet had been anticipating the cost of borrowing money to go down even more that those lower rates help home buyers businesses credit card borrowers student borrowers by making interest rates lower now those interest rates will go down but not as much markets don’t like this that means the economy will be slowed down a bit more in order to continue the fed’s fight against inflation