TOPWRAP 13-US, China kick off global round of rate cuts


* US Fed cuts rates 1/2 point, as expected * China, Norway cut rates; markets eye Japan next * Wall St ends lower; dollar falls; oil surges * IMF approves emergency fund for emerging markets * US mulls guaranteeing up to $600 bln in home loans (For full crisis coverage, double click on [nCRISIS]) By Claudia Parsons NEW YORK, Oct 29 (Reuters) - The United States and China kicked off what is likely to be a global round of interest rate cuts, part of a barrage of measures deployed ...

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