A Treasury bill that matures in three months is yielding 2.46 percent — 0.03 percentage points more than the yield on a Treasury that matures in 10 years. [Source]
What you need to understand is that the "markets" are typically a pretty poor barometer. Bond traders are usually quite a bit better than stock traders, but bond traders often get it wrong in the aggregate. The reason for all of this is that most of them don't do good political analysis. You can't do good economics without good politics.
So, the inverted yield curve in this case is a delayed reaction and not as informative as usual. The Fed's decisions are being viewed way too much in the short run where it's the longer term that really matters right now. The Fed was slow but has changed more so to the right direction. They did not do it for political reasons or to increase or decrease the "markets" but to avoid making any coming recession worse.
Will we have a recession? If the people don't get a grip, we very well could.
Trump's corporate-tax cuts were really, really foolish. They made the rich richer but headed us all toward recession right when we definitely will be harm psychologically and in other ways quite a bit. It was a major political blunder, and the Fed is only coincidentally helping to mitigate the damage somewhat (hopefully enough) whether Trump knows that or not.