- After the Federal Reserve rejected expectations for a dovish leaning and stated that interest rates will stay higher for longer, US equity-index futures and European stocks fell.
- At least 0.9% of the contracts for the S&P 500 and Nasdaq 100 indexes decreased. Along with a wave of rate increases from Taiwan to Norway, demand for haven assets drove up the value of the dollar and the Swiss Franc. Following the anticipated half-point rate increase by the Bank of England, the British pound continued to decline. Prior to the European Central Bank's decision, the euro declined. After Elon Musk sold $3.6 billion worth of shares, Tesla fell in premarket New York trading.
- Softer-than-expected US data spurred a worldwide surge After authorities signalled a peak rate that was significantly higher than market estimates on Wednesday and attempted to dash expectations for a rate cut next year, inflation abruptly came to an end. The central bank will continue to fight inflation despite growing concerns about job losses and a recession, chair Powell reaffirmed.
