US stock markets experienced a downturn on Wednesday, following a week of gains fueled by expectations of interest rate cuts. The Dow Jones Industrial Average closed at 46,121 points, reflecting a 0.3% decrease from the previous trading day. The broader S&P 500 registered around 6,638 points, also down 0.3%, while the Nasdaq 100 stood at approximately 24,504 points, exhibiting a similar 0.3% decline.
The shift in investor sentiment appears linked to comments made by Federal Reserve Chair Jerome Powell on Tuesday. Powell highlighted the challenging economic landscape facing the central bank, tempering expectations of aggressive monetary easing. Concerns surrounding the potential for a US government shutdown are also contributing to market apprehension, as negotiations between Republican and Democratic lawmakers remain ongoing. A failure to reach an agreement could trigger disruptions and closures of government agencies.
The Euro weakened against the US Dollar, trading at $1.1737, equivalent to €0.8520 per dollar.
Gold prices also retreated, with a fine ounce fetching $3,732, a decrease of 0.9%. This translates to approximately €102.23 per gram.
Conversely, oil prices saw a significant increase. Brent crude, a benchmark grade of North Sea oil, was priced at $69.14 per barrel, representing a 2.2% rise compared to the end of the previous trading day.
