# Dow drops 330 points after Powell hints rate cut not the start of a trend

> The Dow closed down about 334 points after Fed Chairman Powell described the 25 basis point cut as a midcycle adjustment and did not signal a September cut. The S&P 500 and Nasdaq also fell about 1 to 1.2%.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/58268-dow-drops-330-points-after-powell-hints-rate-cut-not-the-start-of-a-trend
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Reduced expectations for further Fed easing support the dollar and weigh on risk sentiment, which can pressure grain and oilseed prices priced in dollars.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-08-25 | [Gold drops after Powell leaves door open to more rate hikes](https://feedsoft.ai/events/34484-gold-drops-after-powell-leaves-door-open-to-more-rate-hikes.md) | -0.0% | +1.1% |
| DXY | 2025-10-29 | [Stocks fall, US dollar strengthens after Powell puts chill on December rate cut \| Reuters](https://feedsoft.ai/events/22612-stocks-fall-us-dollar-strengthens-after-powell-puts-chill-on-december-rate-cut.md) | +1.0% | +0.5% |
| DXY | 2023-06-22 | [Dollar, yields rise after Powell comments, Bank of England rate hike \| Reuters](https://feedsoft.ai/events/35670-dollar-yields-rise-after-powell-comments-bank-of-england-rate-hike-reuters.md) | +0.5% | -1.0% |
| DXY | 2023-06-28 | [Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes \| Reuters](https://feedsoft.ai/events/35413-nasdaq-ends-up-dollar-strengthens-as-powell-hints-at-more-rate-hikes-reuters.md) | +0.4% | -1.0% |
| DXY | 2018-02-28 | [USD extends rally after Powell testimony and stock market drop. AUD can’t hold US 78 cents - OFX](https://feedsoft.ai/events/66747-usd-extends-rally-after-powell-testimony-and-stock-market-drop-aud-can-t-hold.md) | -0.1% | -0.5% |
| CORN | 2023-07-26 | [Fed lifts rates, Powell leaves door open to another hike in September](https://feedsoft.ai/events/35277-fed-lifts-rates-powell-leaves-door-open-to-another-hike-in-september.md) | -13.9% | -17.3% |
| CORN | 2019-07-31 | [The Fed rate cut: Markets reconsider the 'Fed Put' after underwhelming cut](https://feedsoft.ai/events/58267-the-fed-rate-cut-markets-reconsider-the-fed-put-after-underwhelming-cut.md) | -5.0% | -9.9% |
| CORN | 2024-04-18 | [US dollar gains after strong data, Fed comments on rate cuts](https://feedsoft.ai/events/12555-us-dollar-gains-after-strong-data-fed-comments-on-rate-cuts.md) | -0.4% | +4.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/07/31/stock-market-wall-street-poised-for-first-fed-rate-cut-in-a-decade.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.