Tradeopolis.com

A day after the biggest one day drop in nearly seven years on the TSX, interest rates have been cut in both the U.S. and Canada. The interest rate cut was an unexpected move on the part of the Fed, in the hope that a 75 basis point drop might stave off a sharp decline in coming off the Martin Luther King Jr. holiday, but U.S. shares still declined. Some related headlines:

Canadian stocks rebound, U.S. slides

Did Greenspan sell out investors?

Loonie rises after Bank of Canada rate cut