Market Turbulence: Stocks Slide Amid Oil Surge and Fed Uncertainty
- Wall Street stocks fell sharply on Wednesday after the Federal Reserve held interest rates unchanged, with the S&P 500 closing down 1.5 percent and the Dow down 2.2 percent.
- Escalations in the Middle East pushed Brent North Sea Crude up 7.9 percent to $90.74 per barrel, intensifying inflation concerns after President Donald Trump vowed to strike back following attacks on US bases in Jordan.
- DoubleLine CEO Jeffrey Gundlach told CNBC the bond market remains skeptical of the Fed's stance, with the 30-year US Treasury yield hitting 5.22 percent as he stated, "If you really want to get to two percent, I think you have to raise interest rates."
- International markets mirrored the US decline, with the South Korean index slumping 6.0 percent and chipmaker SK hynix shedding nearly 20 percent despite announcing profits.
- Corporate earnings remain in focus as Microsoft gained while Meta shares fell sharply, with Adam Sarhan of 50 Park Investments noting, "Basically, we're left with a situation where the problem is not solved.
38 Articles
38 Articles
The U.S. markets ended with heavy losses driven by the division in the central bank and the escalation of the conflict in Iran. The price of oil rose almost 8%. However, in Chile the dollar recorded a minimal decrease.
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Radio France Internationale
Free Malaysia Today NewsOil prices surge while US stocks fall as Fed keeps rates unchanged
Major US indices ended down more than 1.5 percent after initially greeting the Fed's decision to keep interest rates level. However, markets shifted course during Fed Chair Kevin Warsh's press conference where he pledged to achieve price stability and return inflation to the US central bank's two percent target as he simultaneously defended a decision to not hike interest rates. "The market is getting mixed messages from the Fed," said Adam Sar…
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