Markets on Edge Ahead of Warsh Speech

The global markets are bracing for a potentially pivotal speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole economic policy symposium.

Market anxiety is running high ahead of the speech, despite a 36-percent likelihood of a quarter percentage rate hike by the Fed in September, as indicated by the CME FedWatch tool that tracks interest rate traders' expectations.

The speech will be closely watched for any clues about future monetary policy decisions. Meanwhile, major benchmarks in Europe are trading on a mostly positive note, while Asian markets had finished the day on a mixed note.