Fed Rate Cut Odds Plummet to 50% Amid Market Volatility

Fed's CME Fedwatch shows a dip in December rate cut odds to 51.9%, down from 62.9% yesterday and 95.5% a month ago. The market reacts negatively, with the Dow down 1.65%, Nasdaq down 2.29%, and S&P 500 down 1.65%. The decline in rate cut odds is attributed to a statement by Fed member Sue Collins, citing limited information on inflation due to the government shutdown.