Dow Jones, S&P 500, Nasdaq: Dow Jones closes almost unchanged - Paypal stock plummets
The central bankers' meeting in Jackson Hole and the Fed chief's speech hardly move the major indexes. However, some stocks stand out with significant losses.
US stock markets reacted cautiously to Federal Reserve Chair Kevin Warsh's speech, with modest gains. The Dow Jones index remained almost unchanged at 53,560 points, while the S&P 500 fell 0.2% to 7,711 points and the Nasdaq dropped 0.5% to 26,402 points. Warsh stated that the Fed must respond if inflation does not move towards the 2% target, but did not commit to a specific interest rate move at the September Fed meeting.
The inflation rate in the US has been above 2% since 2021, and experts have questioned Warsh's strategy for reducing it. Following the speech, short-term US bond yields rose, while long-term bond yields fell slightly, before all yields rose, indicating higher interest rate expectations.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.