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US stocks are set to drop after the Fed's 'hawkish shift' tempers hopes for further rate cuts
  • US futures fell while European and Asian equities rose on Thursday after the Federal Reserve trimmed interest rates to counter slowing global growth and the US-China trade war.
  • Fed Chair Jerome Powell cut the benchmark rate by 25 basis points to between 1.75% and 2%, but disappointed some investors by adding that "moderate" policy moves should be sufficient for now.
  • "If the economy does turn down, then a more extensive sequence of rate cuts could be appropriate," Powell said.
  • Oil rose to about $64 a barrel. 
  • View Markets Insider's homepage for more stories.

Full "The Business Insider: The Money Game" article

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