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Stocks mixed after Fed's rate cut

|About: iShares 20+ Year Treasury B... (TLT)|By:, SA News Editor

Stocks take a leg down after the Fed cut the federal funds rate by 25 basis points, as widely expected.

The S&P 500 and Dow each slip 0.2%, while the Nasdaq is up 0.1%, but still below its session high.

10-year Treasury note rallies, pushing yield down almost 5 basis points to 2.016%; 2-year Treasury yield edges down 1 bp to 1.846% compared with its session-low of 1.802%

iShares 20+ Year Treasury Bond ETF (TLT +0.8%); ProShares UltraShort 20+ Year Treasury ETF (TBT -1.7%).

The dollar gains strength; Dollar Index +0.2% to 98.19; Invesco DB USD Bullish ETF (UUP +0.2%).

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