The FOMC tried very hard to sound dovish yesterday but with the bull market largely based on ultra-expansive monetary policy and no new action on the horizon it was not enough to keep investors happy. The Fed effectively pledged to keep 0% interest rates through 2023 but equity indices still declined, a move that was extended after president Trump suggested he didn’t like a solution when the Chinese company maintains a control of the US TikTok operations (denying earlier rumors).
Investors should pay attention to the 10930 level on US100 where bulls managed to counterattack twice. A break of this level could drive the market to 10000 level fairly quickly.

Daily Summary: Modest declines ahead of Jackson Hole and Nvidia
US-Canada trade conflict escalates
US OPEN: Trade escalation between the US and Canada
Market Wrap: European NATGAS futures surge nearly 4%; luxury sector sees stronger demand coming in China (34.08.2026)