Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Add as a preferred source on Google
U.S. stocks fell Thursday for the third consecutive session, with the S&P 500, Dow Jones, and NASDAQ all closing lower as stronger-than-expected economic data tempered hopes for aggressive Federal Reserve rate cuts. At the close, the Dow dropped 173 points, or 0.4%, the S&P 500 fell 0.5%, and the NASDAQ slipped 0.5%, extending a pullback from recent record highs amid concerns over valuations and Fed policy.
Investor sentiment weakened after Fed Chair Jerome Powell warned earlier this week that there is “no risk-free path” as the central bank balances inflation risks with a softening labor market. The remarks came just days after the Fed’s 25-basis-point rate cut, leaving markets uncertain about how many more reductions will follow this year.
Fresh data reinforced the picture of U.S. economic resilience. Weekly jobless claims dropped to 218,000, well below expectations, while the final reading of second-quarter GDP showed growth of 3.8%, up from earlier estimates of 3.3% and 3.0%. The strong growth data and low unemployment filings pushed Treasury yields higher, weighing heavily on technology stocks.
Fed projections last week indicated another half-point in cuts may be on the table before year-end, but several policymakers signaled fewer moves could be likely. Analysts noted that hawkish implications from the data may pressure equities, especially given that expectations of Fed easing had fueled much of the rally. Traders now await Friday’s release of the Fed’s preferred inflation gauge, the PCE price index, for further clarity.
Markets are also grappling with political risk as a potential U.S. government shutdown looms. A Senate rejection of a stopgap spending bill has left federal agencies preparing contingency plans that could trigger mass layoffs if no agreement is reached.
On the corporate front, Nvidia gained nearly 1% as investors bought into recent weakness, while Intel rose on reports it approached Apple for a potential investment. Earnings news was mixed: Stitch Fix and CarMax plunged after weak results, while Accenture beat revenue forecasts and announced an $865 million restructuring to focus on digital and AI demand.
