Wall Street's New Play: Traders Bet on Emergency Fed Rate Cut

In the wake of last week's disappointing U.S. economic figures, markets have ramped up bets on a Federal Reserve rate cut.  The 'Black Monday' turmoil has been fueled by intensifying concerns over a potential U.S. economic downturn.  The likelihood of an imminent rate cut by the Fed has been further elevated, with some traders placing wagers on an emergency easing measure.  

The situation has drawn commentary from even the world's wealthiest figure, Elon Musk, who has voiced his critique of the Federal Reserve's stance.