Fed cuts rates by 25 bps, as expected; Crypto stocks fall on Powell comments; Indexes down: Dow 2.58 per cent, S&P 500 2.95 per cent, Nasdaq 3.56 per cent.
Australia is on track for a soft economic landing despite budget deficits set to widen as spending grows and tax receipts fall, Treasurer Jim Chalmers says.
Technology stocks have weighed on Wall Street as investors grew cautious ahead of the Federal Reserve's interest rate decision this week following a stronger-than-expected retail sales reading.