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took the legs away from the subsequent equities rally

English translation: neutralised the momentum of an equities rally triggered by the rate cut

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15:48 Nov 9, 2007
English to English translations [PRO]
Bus/Financial - Finance (general) / Financial
English term or phrase: took the legs away from the subsequent equities rally
‎“As expected the Fed cut rates by 25bps. Weak US economic data immediately after the Fed ‎move took the legs away from the subsequent equities rally‎"

What does this mean in plain English?
Thank you
ahmadwadan.com
Kuwait
Local time: 02:14
English translation:neutralised the momentum of an equities rally triggered by the rate cut
Explanation:
The interest rate cut by the US Federal Reserve triggered a positive reaction in the equities market - this was soon neutralised by negative economic data.
Selected response from:

Ralf Lemster
Germany
Local time: 01:14
Grading comment
Thank you all for participation.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +4neutralised the momentum of an equities rally triggered by the rate cut
Ralf Lemster
4 +1put a stop to any subsequent recovery
Michael Tovbin


Discussion entries: 5





  

Answers


4 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
put a stop to any subsequent recovery


Explanation:
-

Michael Tovbin
United States
Local time: 18:14
Works in field
Native speaker of: Native in EnglishEnglish, Native in RussianRussian

Peer comments on this answer (and responses from the answerer)
agree  Can Altinbay: Slowed it down considerably at least. Nice way of putting it.
3 mins
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10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
neutralised the momentum of an equities rally triggered by the rate cut


Explanation:
The interest rate cut by the US Federal Reserve triggered a positive reaction in the equities market - this was soon neutralised by negative economic data.

Ralf Lemster
Germany
Local time: 01:14
Specializes in field
Native speaker of: German
PRO pts in category: 143
Grading comment
Thank you all for participation.

Peer comments on this answer (and responses from the answerer)
agree  Joshua Wolfe: "took the legs away" connotes removing the driving force
3 mins

agree  xxxTatiana N.
11 hrs

agree  Pham Huu Phuoc
15 hrs

agree  marybro
21 hrs
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