Warsh's Speech Sparks Market Anxiety
Global markets are on edge ahead of Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole economic policy symposium. The event is widely watched for clues about interest rate hikes, with the CME FedWatch tool indicating a 36% likelihood of a quarter percentage rate increase in September.
Despite this, Wall Street futures are directionless due to monetary policy worries and a positive outlook for the technology sector. Major European benchmarks are trading mostly higher, while Asian markets closed on a mixed note.
The six-currency Dollar Index has edged up, while ten-year sovereign bond yields have hardened across regions. Crude oil prices are down slightly, with gold also trading in mildly negative territory.
Cryptocurrencies are experiencing a mostly negative day, with Bitcoin and Ethereum down 0.78% and 1.72%, respectively.