'Like trying to kill a mosquito with an anvil': The Fed's latest actions left Wall Street disappointed and worried. Here's what the experts had to say.

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• The Federal Reserve slashed borrowing costs Wednesday for the first time since the 2008 financial crisis, a move that has been priced into financial markets for months. But stocks fell sharply following the announcement.
• The mood on Wall Street soured after Fed Chairman Jay Powell dimmed expectations for additional easing, dispelling the idea that Wednesday was the start of a "long series of rate cuts."
• Here's what Wall Street is saying about the decision.
• $4.

The $4 slashed borrowing costs Wednesday for the first time since the 2008 financial crisis, a move that has been priced into financial markets for months.

But $4 after the central bank announced it would lower its benchmark interest rate by a quarter percentage point to target range of between 2% and 2.25%. The mood on Wall Street soured after Fed Chairman Jay Powell dimmed expectations for additional easing, saying Wednesday wasn't the start of a "long series of rate cuts."

The major US indices each shed more than 1%, with the $4 and $4 suffering their worst daily losses since May. The $4 jumped against a basket of peers, while Treasury yields fell.

Here's what Wall Street is saying about the decision.