Jerome Powell made the global markets move, but not in the right way.
The US
The FOMC meeting ended after two days of discussions, but the outcome wasn’t what the investors were rooting for. USA30 fell 1.04%, while USA500 lost 0.53%. TECH100, which moved against the current for the past few days, dropped by 0.67%.
Oil gained 66 cents to $39.60 per barrel. Brent Oil added 55 cents to $41.73 per barrel.
Gold settled at $1,720.70 per ounce.
The Dollar Index gained 0.38% to 96.315.
Asia and Australia
Markets across the ocean felt the impact of the FOMC meeting, which predicted a dark future for the American economy.
Japan225 shed 1.25%.
HongKong45 fell 0.39%.
Australia’s ASX lost 2.19%.
USD/JPY declined by 0.01% to 107.08.
AUD/USD dropped by 0.82% to 0.6939.
USD/CNY gained 0.15% to 7.0704.
Europe
European benchmarks continued to decline for the third consecutive day after the FOMC meeting. France40 led the way, as it lost the most during yesterday’s trading session – 0.82%.
UK100 was off 0.10%.
Germany30 was 0.70% lower.
GBP/USD traded lower by 0.43% to 1.2691.
Do you want to know what drives the markets? Read more here!
Sources: investing.com, money.cnn.com, marketwatch.com
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