Warsh's Inflation Warning Sends US Stocks into Retreat

US stocks declined on Friday following Federal Reserve chair Kevin Warsh's keynote address at the Jackson Hole economic symposium. The Dow Jones Industrial Average slipped by 9.45 points to close at 53,559.99, a decrease of 0.02 per cent.

The S&P 500 dropped 19.23 points, or 0.25 per cent, ending at 7,711.76, while the Nasdaq Composite Index saw a steeper loss of 138.93 points, down 0.52 per cent, closing at 26,402.42.

Investors interpreted Mr Warsh's comments as distinctly hawkish after he highlighted continued concerns around inflation, even as broad measures have eased from their peaks in 2022.