Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
U.S. stocks tumbled Wednesday as Federal Reserve Chair Jerome Powell dashed hopes of imminent interest rate cuts and a tech-led selloff, driven by Nvidia, rattled markets. The S&P 500 dropped 2.2%, the Nasdaq plunged 3.1%, and the Dow Jones Industrial Average slid 699 points, or 1.7%.
Powell warned the Fed remains focused on containing inflation, stating that tariff-induced price hikes must not evolve into sustained inflationary pressures. This stance contrasts with Fed Governor Christopher Waller's recent openness to rate cuts if tariffs significantly slow growth.
Tech stocks were hit hardest, led by Nvidia (NASDAQ:NVDA), which sank over 6% after revealing a $5.5 billion revenue hit due to U.S. export restrictions on its H20 AI chip to China. The chip, previously cleared for Chinese sale, now faces stricter controls amid ongoing U.S.-China trade tensions.
The news dragged down semiconductor stocks, with AMD (NASDAQ:AMD) forecasting an $800 million writeoff tied to similar curbs, sending its shares down more than 7%. ASML (AS:ASML) also flagged weaker Chinese demand, while Intel (NASDAQ:INTC), Broadcom (NASDAQ:AVGO), and TSMC (NYSE:TSM) also declined.
Outside tech, Travelers Companies (NYSE:TRV) gained over 1% despite a 60% profit plunge tied to $2 billion in wildfire-related losses. Hertz (NASDAQ:HTZ) surged 56% following a sizable stake increase by Pershing Square’s Bill Ackman. Meanwhile, Alphabet (NASDAQ:GOOGL) slipped nearly 1% amid a £5 billion UK class action lawsuit over alleged search market dominance.
On the economic front, U.S. retail sales jumped 1.4% in March, fueled by auto purchases ahead of potential tariffs. Stronger sales prompted Jefferies to revise its Q1 GDP forecast from 0.6% to 1.0%, suggesting resilient consumer demand despite economic uncertainty.
