One day after the Fed hike and Warsh's hawkish presser tanked the Dow 700+ points, stocks staged a sharp reversal Thursday. Chips led, VIX collapsed 12.8%, and 10-year yields pulled back from 2007 highs. Here's what changed and what to watch into next session.
The Fed raised rates for the first time in three years — and Chair Kevin Warsh's press conference spooked markets more than the hike itself. Dow -1.7%, S&P -1%, Nasdaq -0.8%. Here's what it means for the next session.
Post-close recap ahead of the September 16 FOMC decision — 10-year yields hit 2007 highs, oil spikes 4%, and Lennar's Q3 print collides with the Fed on the same afternoon.
Futures retreat ahead of Wednesday's Fed rate decision as AI safety fears (Anthropic's Dario Amodei essay) compound a brutal chip selloff. NVDA, INTC, SMCI, ORCL all down sharply. VIX 16.88, oil holds near $101-110, Treasury yields near 5%. Middle East risk elevated (LVL 7 Saudi/Houthi strikes).
This week's macro backdrop is dominated by Fed commentary, continued AI infrastructure spending, and a quiet but meaningful rotation from large-cap tech into mid-cap industrials.