ASX 200 lower amid US rate cut and new Australian unemployment figures

The S&P/ASX 200 Index (ASX: XJO) is down 0.5% at 8,774 points in early afternoon trading.

The local bourse is being dragged down by news that the foreign takeover bid for ASX 200 energy giant Santos Ltd (ASX: STO) is off.

Additionally, the US Federal Reserve just cut interest rates for the…