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Stocks extended gains and the dollar weakened as traders pared expectations for a Federal Reserve rate hike after Chair Kevin Warsh refrained from endorsing tighter policy, despite this week’s hotter-than-expected inflation data.
Stocks extended gains and the dollar weakened as traders pared expectations for a Federal Reserve rate hike after Chair Kevin Warsh refrained from endorsing tighter policy, despite this week’s hotter-than-expected inflation data. MSCI’s Asia Pacific equities gauge climbed 1.6%, while S&P 500 futures reversed losses of
Major U.S. indices ended the session lower, with the Dow Jones Industrial Average falling 2.19% to 51,594.14, the S&P 500 declining 1.52% to 7,316.15 and the Nasdaq shedding 1.74% to 24,442.94 The Federal Reserve kept its benchmark interest rate unchanged at 3.50%—3.75% for a fifth consecutive meeting, although three p