CNBC Daily Open: Markets seemed taken aback by the 50-point cut

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

A jumbo-sized 50-point cut 
The U.S. Federal Reserve slashed rates by half a percentage point, bringing the federal funds rate to 4.75%–5%. Federal Open Market Committee members see the rate falling to 4.25%–4.5% by the end of this year, meaning another half-point cut before 2025. Members also raised their estimation of the unemployment rate this year to 4.4% from the 4% projected in June. 

Rate cut didn't boost markets 
U.S. markets popped on the Fed's 50-point cut but couldn't maintain their gains. On Wednesday, the S&P lost 0.29%, the Dow fell 0.25% and the Nasdaq dipped 0.31%. Europe's regional Stoxx 600 index lost 0.5%. The U.K.'s FTSE 100 dropped 0.68% as data showed the country's headline CPI for August remaining at 2.2%, the same as July's figure. 

Global repercussions of cut 
The Fed's loosening of U.S. monetary policy doesn't just affect the country's borrowing rate. It affects the decision of central banks all around the world and will move assets, ranging from currencies to bonds to commodities. CNBC's Jenni Reid looks at how Wednesday's rate cut will cause tectonic shifts in assets globally. 

Presidential prediction 
U.S. Vice President Kamala Harris is more likely to win the presidential election than former President Donald Trump, according to a CNBC survey. Out of the 27 respondents, who comprise investment strategists, economists and fund managers, 48% think Harris has a greater chance of winning, 41% think it's Trump, while 11% are unsure. 

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