U.S. stocks slip as Warsh’s hawkish stance lifts September rate-hike odds to 57%
AI Market Summary
US equities finished lower as Fed Chair Warsh's hawkish stance lifted perceived odds of a near-term rate hike and pushed Treasury yields higher, tightening financial conditions. Weak Chicago PMI and a downward payroll revision offered some offset, but rate sensitivity dominated. Semiconductors and AI infrastructure lagged on guidance concerns, amplifying index pressure, while crypto-exposed stocks fell alongside a sharp Bitcoin drop.
Impact level
● High
Affected assets
NCSISP5002USD/USDT-0.11%
AI Insight · NCSISP5002USD/USDTAI Insight
▼ Bearish
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U.S. equities ended lower on Friday after bond yields rose and Fed Chair Warsh reiterated a commitment to return inflation to target, lifting the perceived odds of a rate increase next month. The S&P 500 fell 0.25%, the Dow dipped 0.02%, and the Nasdaq 100 slid 0.70%. The 10-year Treasury yield rose 5 basis points to 4.72%. Chipmakers and AI infrastructure shares led declines, with Marvell Technology dropping 10% after issuing adjusted gross margin guidance below consensus.
