Global Stock Markets End Mixed as Fed Rate-Hike Bets Rise After Warsh’s Jackson Hole Remarks
New Delhi, Aug 29: Global stock markets ended the week on a mixed note as investors turned cautious after Federal Reserve Chair Kevin Warsh’s comments at Jackson Hole increased expectations of a possible U.S. interest-rate hike in September.
Wall Street closed lower, with the S&P 500 falling 0.25%, the Nasdaq dropping 0.52% and the Dow Jones edging down 0.02%. Technology stocks came under pressure, with Nvidia and Marvell Technology among the major decliners.
European markets performed better, while Asian shares ended mixed as investors assessed the impact of higher U.S. rates on global economic growth and investment flows.
Indian markets bucked the cautious global trend. The Sensex gained more than 300 points, while the Nifty 50 closed above 24,150, supported by gains in IT stocks.
Oil prices also eased, while the U.S. dollar strengthened as markets adjusted to the changing rate outlook.
Investors will now focus on upcoming U.S. inflation and employment data for further clues on the Federal Reserve’s September policy decision. The rate outlook, bond yields, currency movements and crude prices are expected to remain key drivers of global markets in the coming weeks.