Wall Street falls as expectations for hefty Fed cut trimmed

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Wall Street falls as expectations for hefty Fed cut trimmed

Traders walk on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid

NEW YORK (Reuters) – Wall Street’s main indexes edged lower on Friday following a report that the Federal Reserve plans to cut interest rates by only a quarter-percentage point at the end of the month.

The Dow Jones Industrial Average .DJI fell 68.36 points, or 0.25%, to 27,154.61, the S&P 500 .SPX lost 18.48 points, or 0.62%, to 2,976.63 and the Nasdaq Composite .IXIC dropped 60.75 points, or 0.74%, to 8,146.49.

Reporting by Evan Sully; Editing by Dan Grebler