Forex
Global Stocks Fall Amid Rising Rate Hike Bets After Warsh's Jackson Hole Speech
The global stock market experienced a choppy session on Friday as traders added to bets for an interest rate hike after Federal Reserve chair Kevin Warsh's speech at the annual economic symposium in Jackson Hole.
Warsh said the Fed will 'have work to do' if policymakers are not confident that underlying inflation is returning to its 2% target, acknowledging financial conditions do not appear restrictive.
Bets for a rate hike at the September meeting rose to a 55.7% probability from 35.4% on Thursday, according to CME Group's FedWatch tool.