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Asian stocks traded mixed Thursday as a divided Fed held rates and Korea's KOSPI extended its selloff despite Samsung's record quarter.
The Dow fell 1,153 points after the Fed held rates steady, as bond yields surged amid inflation fears following a tense FOMC.
The head of the Fed's choice of words when describing elevated inflation should rightly worry Wall Street and investors.
Then Kevin Warsh started talking. The new Federal Reserve chairman did little to ease investor concerns about the central bank’s fight with inflation, so the S&P 500 closed down 1.5%. The Dow Jones Industrial Average sank 2.2% The Nasdaq Composite fell 1.7%.
U.S. equity futures were little changed on Wednesday as investors digested Microsoft, Meta and Qualcomm earnings and the Federal Reserve’s decision.

<body><p>STORY: Wall Street ended sharply lower on Wednesday, with the Dow tumbling more than two percent, the S&P 500 shedding one-and-a-half percent and the Nasdaq falling one-and-three-quarters percent.</p><p>:: Archive</p><p>The Fed's widely expected decision to leave interest rates unchanged drew dissents from three of the 12 members of the central bank's policy-setting committee, who would have "preferred" a quarter-percentage-point hike at Wednesday's meeting.</p><p>Eric Diton is president and managing director of The Wealth Alliance.</p><p>"That's telling you the Fed here is not in agreement. Three dissenters is a lot. And it's clear that we are getting closer and closer to a rate hike. And the markets are handicapping that. So, I think going forward I would expect a rate hike probably in September, certainly by December. I think that’s where we are heading.”</p><p>Meanwhile, investors continued to worry about Big Tech companies funneling billions of dollars into AI at the expense of free cash flow.</p><p>Case in point: shares of Meta fell more than 9% in extended trading after the social media company hiked its forecast for 2026 capital expenditure.</p><p>But shares of another Magnificent 7 tech giant climbed in extending trading. Microsoft rose about 2% after topping Wall Street estimates for quarterly cloud revenue growth, a sign its massive spending on AI infrastructure was paying off.</p><p>:: Microsoft</p><p>:: Archive</p><p>AI-related chipmakers added to recent losses after a sixfold jump in SK Hynix's quarterly profit fell short of lofty investor expectations. </p></body>
(Updates with index/price moves and Federal Reserve/geopolitical news from the first paragraph.)
Stocks fell sharply after the Federal Reserve held rates steady, while investors worried that rate hikes were coming later this year as the war in Iran escalated.
US equity indexes fell Wednesday as crude oil prices jumped after Iran's surprise missile attack, wh
The S&P 500 and Nasdaq Composite were struggling to hold onto gains as after Fed Chairman Kevin Warsh took questions from reporters. The S&P 500 was back down 0.2% after briefly popping during Warsh’s presser. The Nasdaq was up just 0.1%.
The Nasdaq Composite is mounting its biggest comeback on a Federal Reserve decision day in more than four years. The tech-heavy index was up 0.4% as Fed Chairman Kevin Warsh took questions from reporters. It was down nearly 1.6% at its low today; if it closes higher, it would mark its biggest reversal from an intraday low to positive territory on a Fed decision day since May 4, 2022, according to Dow Jones Market Data.
As Federal Reserve Chairman Kevin Warsh began his press conference, stocks had erased most of their post-decision pop. The Dow Jones Industrial Average was down 775 points, or 1.5%. The S&P 500 was down 0.
Chip stocks extended a losing streak while traders await Fed Chair Kevin Warsh's rate announcement Wednesday afternoon
Ford announced an operating profit of $2.5 billion from sales of $48.3 billion. Things look OK for the U.S. car business.
West Texas Intermediate crude jumped nearly 7% after Iran launched missiles at U.S. forces, complicating the Fed's rate calculus
July 29 (Reuters) - Wall Street's main stock indexes opened lower on Wednesday as investors awaited the Federal Reserve's monetary policy verdict against a backdrop of simmering Middle East tensions,
Wall Street futures were mostly higher pre-bell Wednesday as the global tech sector sell-off paused,
U. S. stock futures traded close to unchanged on Wednesday as investors prepared for a pivotal session featuring the Federal Reserve’s latest interest rate decision and quarterly earnings from artificial intelligence leaders Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT).
Stocks were on track to open a touch higher Wednesday as investors shrugged off a rally in oil prices ahead of the Federal Reserve’s July interest-rate decision. Dow Jones Industrial Average futures climbed 41 points, or 0.1%. This could be a crucial day for the market, with the Fed set to announce its policy decision and mega-cap tech companies Meta and Microsoft due to report earnings after the closing bell.
Hard economic data, not proactive guesswork, drive Federal Open Market Committee (FOMC) policy decisions.
After back-to-back days of outperformance this week, the Dow Jones Industrial Average has nudged ahead the other major U.S. benchmarks for the month and year as well. On a year-to-date basis, the Dow is up 9.7%, holding a small lead over of the S&P 500, which is up 8.5%, and the tech-heavy Nasdaq composite, which is up 7%. The Nasdaq yesterday flirted with trading in correction territory, or 10% below a recent high.

<body><p>STORY: Wall Street's main indexes closed mixed on Tuesday with the Dow gaining 1%, the S&P 500 edging up about two-tenths of a percent and the Nasdaq dipping by roughly two-tenths of a percent.</p><p>Markets have been volatile this month as investors worry that Microsoft, Amazon and other tech heavyweights may be overspending on data centers in the race to build out AI infrastructure.</p><p>But Nancy Tengler, CEO and chief investment officer of Laffer Tengler Investments, said to expect these companies to announce more AI spending when they report quarterly results this week.</p><p>"Make no mistake, we're in an AI arms race. I think you will continue to see spending. I think you'll actually see companies increase spending next year and then things will normalize and stabilize... We're focused on adding to the US names because you can't have a situation where companies are penalized for spending, i.e. the hyperscalers, and companies are penalized for being on the receiving end to the spending, Micron, chip names. At some point, this will come, regress to the mean and we'll start to pay attention to fundamentals."</p><p>Shares of Microsoft rose ahead of its report on Wednesday, while Amazon dipped before its results on Thursday.</p><p>Shares of Apple closed almost 1% higher, though they rose nearly 2% during the trading session and briefly exceeded a $5 trillion market valuation for the first time. The iPhone maker reports its results on Thursday.</p><p>Outside of technology, shares of Coca-Cola rallied 5% after the beverage company raised its annual revenue and profit forecasts.</p><p>:: Archive</p><p>And shares of Boeing jumped nearly 5% after the airplane maker generated positive free cash flow as its turnaround plans gained momentum.</p><p>Meanwhile, the Federal Reserve is due to announce its interest-rate decision at the conclusion of its two-day policy meeting on Wednesday. Traders see about a 70% chance that the central bank will leave rates unchanged, according to CME's FedWatch tool.</p></body>