The US Fed cut rates but the market reaction is clearly negative – US dollar gains, gold and silver move lower and stocks go down as well as there seems to be growing divergence of view at the FOMC. Dot plot suggests another cut this year and this is dovish but no further cuts in 2020 and the statement does not address present liquidity concerns. Expect many tough questions to Powell who will begin his conference within minutes (7:30pm BST/8:30pm CEST).
Daily Summary: Chip War Weighs on Wall Street as Oil Plunges After US–Iran Ceasefire ⭐
Nasdaq-100 under pressure after chip sell-off
China Is Building Its Own Chip-Making Machines. ASML Under Pressure as the Technology War Enters a New Phase
US Open: Wall Street Rebounds After US Iran Ceasefire