US equity markets retreated as Treasury yields continued to climb on the eve of the Federal Reserve’s latest interest rate decision - Dow down -313-points or -1.01%, falling as much as -550-points earlier in the session. The broader S&P500 fell -1.13%, with Real Estate (down -2.57%) and Materials (-1.90%) leading all eleven primary sectors lower. Ford Motor Co tumbled -12.32% to log its worst single session drop since 2011 after the automaker told investors after the close of the previous session that it saw a +US$1B increase in supply chain costs during the third quarter. General Motors Co fell -5.63%. The Nasdaq -0.95%. Apple Inc rose +1.57% after announcing price rises for the app store in a number of Asian and European countries, likely a response to the surge in the U.S. dollar. Nvidia Corp (down -1.54%) hosted their GPU Technology Conference overnight and said that the launch of its next generation of gaming cards is well positioned. The RTX 4090 Gaming chips using the company’s next-generation “Ada Lovelace” architecture, said to perform up to four times faster than its previous generation RTX 3090 Ti, will be available on 12 October for a suggested retail price of US$1,599. Following the keynote address, Chief Executive Officer (CEO) Jensen Huang told analysts that while gaming end markets are soft, they’re not so soft that Nvidia won’t be able to sell excess inventory it has in the channel. The Dow Jones Transport Average, viewed as a barometer of economic health, dropped -2.27% to a near 19-month low, with all 20 components retreating. The small capitalisation Russell 2000 lost -1.40%.