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Informist, Monday, Aug. 31, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end lower post Fed Warsh comments at Jackson Hole

 

MUMBAI--0730 IST--Major US indices ended lower Friday as concern about a potential rate hike in September climbed after Federal Reserve Chair Kevin Warsh sounded slightly hawkish and conveyed concern about higher inflation at the annual symposium in Jackson Hole. Indices were, however, up on a weekly basis.  

 

"...While this summer's PCE and CPI readings were better than expected, they do not tell me that underlying trends have meaningfully improved," Warsh said in his speech. "A good majority of my colleagues and I thought the wiser course was to await new information in the intermeeting period—especially given possible developments in supply chains, investment flows, and geopolitics, before deciding whether a change in interest rate policy was advisable. And we expressed our joint readiness to act as circumstances might require," he also said. Odds of a rate hike in September stood at 56.8%, according to the CME FedWatch. 

 

Yields rose after Warsh's speech. The 2-year Treasury yield rose 12 basis points to 4.356%, according to a report on CNBC. Long-term bond yields were also up, with the 30-year bond yield gaining 2 bps to 5.211% and the 10-year note yield rising more than 5 bps to 4.726%.  

 

Friday, the Nasdaq Composite was worst hit among its peers and it closed 0.5% lower. The S&P 500 ended nearly 0.3% lower, while the Dow Jones Industrial Average ended flat. Chip stocks in the region ended lower after a rally on Thursday on the back of Nvidia's strong earnings for the July quarter. Nvidia's shares closed nearly 5% lower.

 

Meanwhile, shares of Marvell Technology plunged 10% over doubts regarding the timing of revenue from its artificial intelligence chip agreement with Alphabet's Google. Alphabet, however, closed 2% higher. Gains in Salesforce shares helped cap losses for the Dow Jones. Shares of the software major closed nearly 2% higher. 

 

Following are the closing levels of key indices in the region: 

 

Index	Level	Change in %
Dow Jones Industrial Average	53559.99	(-)0.02
NASDAQ Composite	26402.42	(-)0.52
S&P 500	7711.76	(-)0.25

 

(Vidhi Thacker)

 

US$1 = INR 95.38

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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Government's Press Information Bureau - https://www.pib.gov.in

 

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