Stock Market Update
31-Aug-26 14:00 ET
Gold Slips as Hawkish Fed Outlook, Higher Yields Weigh
Dow -307.99
at 53252.00,
Nasdaq -73.96
at 26349.51,
S&P -27.06
at 7684.70
[BRIEFING.COM] The tech-heavy Nasdaq Composite (-0.28%) is in "first" place on Monday afternoon, down about 74 points, as more aggressive losses are being had elsewhere.
Gold futures settled $48.40 lower (-1.1%) at $4,481.50/oz, as markets continued to digest a more hawkish Fed outlook following Chair Kevin Warsh's Jackson Hole comments. Higher Treasury yields and a firmer dollar, along with renewed inflation concerns tied to rising oil prices, are weighing on gold by reducing expectations for near-term rate cuts.
Meanwhile, the U.S. Dollar Index falls about -0.3% to $99.42.
