Markets Freeze Ahead of Jackson Hole, Bitcoin Dips Below $80K

Global markets have slowed significantly ahead of the highly anticipated Jackson Hole symposium, where Federal Reserve officials will provide key insights into monetary policy. The US indices' futures are trading flat, with the US100 index down by 0.05% and the US500 index up by 0.02%. Nvidia's strong earnings report yesterday led to a volatility fade, with investors awaiting comments from Kevin Warsh at Jackson Hole.

In Asia, sentiment is mixed, with muted trading volumes as investors hold their breath for Warsh's speech today. South Korea underperformed in the region, down by 1.3%, following waning tech enthusiasm after Nvidia's results. Japan outpaced its peers, up by 0.6%, while Chinese markets and Australia are also in the green.

The Tokyo Consumer Price Index (CPI) inflation unexpectedly accelerated to 1.8% year-over-year in August, exceeding expectations of 1.7%. Core-core inflation rose to 2.0%, driven by slowing food price growth and a broader pass-through of energy costs. The unemployment rate declined from 2.5% to 2.4%, supporting recent hawkish comments from BOJ officials.

The commander of United States Central Command announced that international transit routes through the Strait of Hormuz have been cleared of Iranian naval mines.