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US equities were lower in Wednesday trading, though ended a bit off worst levels, with the Dow Jones, S&P500, and Nasdaq closing down 31bps, 47bps, and 51bps respectively. FOMC the big event today, with takeaways leaning hawkish given Fed's views on firmer labor market and inflation. Nvidia came under some pressure after Bloomberg reported the White House has held early talks about further restrictions on China chip sales. Notable downgrade today to Atlanta Fed Q1 GDP tracker, though still above consensus and Street continues to talk up macro backdrop as supportive for stocks.
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US equities were lower in Wednesday trading, though ended a bit off worst levels, with the Dow Jones, S&P500, and Nasdaq closing down 31bps, 47bps, and 51bps respectively. FOMC the big event today, with takeaways leaning hawkish given Fed's views on firmer labor market and inflation. Nvidia came under some pressure after Bloomberg reported the White House has held early talks about further restrictions on China chip sales. Notable downgrade today to Atlanta Fed Q1 GDP tracker, though still above consensus and Street continues to talk up macro backdrop as supportive for stocks.
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