Stocks in the US seesawed on Wednesday as investors reacted to the Federal Reserve's decision to keep interest rates unchanged and Fed Chair Powell's cautious tone amid rising geopolitical and economic uncertainty.
The S&P 500 finished slightly lower, the Dow lost 44 points while, the Nasdaq added 0.1%. Powell emphasized the Fed's wait-and-see stance, citing uncertainty around the inflationary effects of President Trump's tariffs and the risk of stagflation, as officials projected two rate cuts in 2025 but downgraded growth forecasts and raised inflation expectations.
Markets were further rattled by heightened tensions in the Middle East, with the ongoing Israel-Iran conflict raising fears of broader US involvement and pushing oil prices slightly higher.
Trump confirmed that Iran had expressed interest in negotiations but left open the possibility of military action, keeping investors on edge. Visa, Mastercard, and Paypal sank over 4% each after the Congress passed its stablecoins act.
Source: Trading EConomi
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