US Stock Markets Close Mixed
(MENAFN) American equities concluded the day with varied results on Wednesday after the Federal Reserve chose to keep the federal funds rate unchanged within the 4.25% – 4.50% band.
Fed Chairman Jerome Powell additionally suggested that there would be no alteration in the central bank’s monetary direction in the upcoming September session.
The Dow Jones Industrial Average dipped by 0.38%, shedding 171.71 points to settle at 44,461.28, while the S&P 500 saw a slight decline of 0.12%, losing 7.96 points to finish at 6,362.9.
In contrast, the Nasdaq Composite edged higher, climbing 0.15%, or 31.38 points, to wrap up at 21,129.67.
Following the Fed’s decision and Powell’s comments, the financial markets showed signs of recovery, as the central bank adopts a wait-and-see approach to determine whether tariffs are fueling inflationary pressures.
The Federal Reserve highlighted that the pace of economic expansion slowed down during the year’s initial half, although shifts in net trade continue to impact the broader economic picture.
During a press briefing, Powell clarified that no determination has yet been made for September’s policy session.
"We don't do that in advance. We will be taking that information into consideration and all the other information we get," he stated.
He also emphasized that the Fed seeks assurance that President Donald Trump’s tariff measures will not lead to a spike in inflation before considering any potential interest rate reductions.
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