TOKYO, Sept 24: Global shares traded mixed on Wednesday after Federal Reserve Chair Jerome Powell said US stock prices were “fairly highly valued,” sparking caution among investors following a streak of record highs on Wall Street.
In Europe, France’s CAC 40 slipped 0.2% to 7,857.54, Germany’s DAX dipped 0.3% to 23,589.16, and Britain’s FTSE 100 shed 0.2% to 9,209.94. US futures hinted at modest gains, with Dow futures inching up 0.1% to 46,644.00 and S&P 500 futures climbing 0.2% to 6,725.50.
Asian markets reflected mixed sentiment. Japan’s Nikkei 225 recovered morning losses to end 0.3% higher at 45,630.31. Australia’s S&P/ASX 200 fell 0.9% to 8,764.50, South Korea’s Kospi lost 0.4% to 3,472.14, while Hong Kong’s Hang Seng surged 1.4% to 26,518.65 and the Shanghai Composite gained 0.8% to 3,853.64.
The cautious tone followed Wall Street’s pullback after three consecutive days of record highs. Powell noted that the Fed faces a delicate balance as inflation remains above the 2% target even as job market concerns rise. “There is no risk-free path,” he said in his first public comments since the Fed cut interest rates last week for the first time this year.
Analysts said Powell’s remarks reinforced the Fed’s dilemma of balancing inflationary pressures with employment concerns. “The Fed remains stuck between a rock and a hard place,” noted Tim Waterer, chief market analyst at KCM Trade.
Investors are awaiting Friday’s release of the Fed’s preferred inflation gauge, expected to show a slight uptick in consumer prices. Meanwhile, Fed officials have signalled the possibility of further rate cuts later this year and in 2026, while remaining cautious about fueling inflation.
In commodities, US crude oil slipped 12 cents to USD 63.29 a barrel, while Brent crude fell 9 cents to USD 67.54. In currency markets, the US dollar strengthened to 148.15 yen from 147.56, while the euro eased to USD 1.1777 from USD 1.1818.
📲 Follow our WhatsApp ChannelSource: Associated Press (AP)
Labels: Global Markets, Stocks, Wall Street, Jerome Powell, Federal Reserve
Tags: #GlobalMarkets #WallStreet #StockUpdate #FederalReserve #Investors
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