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U.S. stock indexes declined modestly on Thursday as investors prepared for a highly anticipated speech by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium on Friday. The S&P 500 fell 0.4%, the Nasdaq 100 dropped 0.5%, and Treasury yields rose amid reduced expectations for Federal Reserve rate cuts, driven by stronger economic data. Market participants are pricing in roughly an 80% chance of a September rate cut, but any indication from Powell that such easing is off the table could trigger increased volatility. Additionally, disappointing quarterly results from Walmart contributed to dampened market sentiment. Asian markets opened quietly in response to the cautious tone from Fed officials signaling potential restraint on monetary easing.
WATCH: US stocks fell, with all three of Wall Street's main indexes losing about a third of a percent or slightly more. With traders pricing in a roughly 80% chance of a September rate cut, any hints that's off the table could spark market volatility https://t.co/KYeRZ8LSP9 https://t.co/3DjxfkbEcP
US stocks fell, with all three of Wall Street's main indexes losing about a third of a percent or slightly more. With traders pricing in a roughly 80% chance of a September rate cut, any hints that's off the table could spark market volatility https://t.co/GEVJWrjTbM https://t.co/BuYpeQVGRi
WATCH: Wall Street's main indexes fell as investors feared potentially hawkish remarks by the Federal Reserve chair that could spark volatility, while big-box retailer Walmart's quarterly results dampened sentiment https://t.co/KYeRZ8MqEH https://t.co/fhUJg1Ys5i
