U.S. Markets See Caution as Tech Slides Before Key Fed Updates
on Wednesday, the Nasdaq started lower due to declining tech shares. Investors appear cautious ahead of crucial Federal Reserve updates.
The tech-focused Nasdaq Composite dropped 0.5% in early trading. The decline followed Tuesday’s important losses for prominent tech firms such as Apple, Microsoft, and Amazon. Their poor performance dragged the Nasdaq down by 1.46% yesterday.
This downturn affected cryptocurrency markets too. Bitcoin (BTC) fell sharply, breaking below $112,570. It’s a far cry from its recent high around $124,000. Voters for safety favored stable investments, leading to the drop.
Other U.S. indexes showed mixed reactions. the Dow Jones industrials inched up by about 60 points, while the S&P 500 dipped slightly by 0.15%.
Investors are also looking at corporate earnings. As an example, Target lost about 9% after reporting earnings that showed falling sales.Conversely,Lowe’s gained almost 3% as its results exceeded expectations.
The spotlight is now on the Federal Reserve. Its July meeting minutes will offer insight into future interest rates. Should investors expect a rate cut in September? The CME Fedwatch tool suggests yes.
This week’s highlight will be Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium. It takes place in Wyoming on Friday and includes key policymakers and economic thinkers.
Powell’s remarks are critical as his term ends in May 2026. His views could set the tone for monetary policy and shape investor decisions going forward.
