Federal Reserve Chairman Kevin Warsh declined to signal whether an interest-rate hike remains on the table for the upcoming FOMC meeting. Speaking alongside counterparts from the ECB, the Bank of England, and the Bank of Canada, Warsh avoided pinning down a timeline, leaving traders to interpret the silence. The Nasdaq composite bore the brunt of the sell-off, pulling back sharply after Wednesday’s gains.
In section Market Quotes
Nasdaq Slides as Fed’s Warsh Sidesteps Rate Path Queries
The Japanese yen hit a 40-year low against the dollar on Thursday, anchoring a volatile trading session where investors sought clarity on interest rates from Federal Reserve officials. Markets retreated across the board as Treasury yields climbed, cooling the momentum from a record-setting close to the previous quarter.
Commodities also faced pressure as gold dipped below $4,000 per troy ounce, hindered by the steady rise in Treasury yields. Oil prices drifted lower following reports that President Trump signaled flexibility regarding negotiations with Tehran, extending talks beyond the August 18 deadline. This shift in diplomatic tone has tempered fears of immediate escalation in Middle East hostilities, though currency markets remain on high alert for potential intervention to stabilize the yen.
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