Wall Street returned to volatility overnight as investors weighed the impact of Jerome Powell’s latest comments on interest rates. Tech stocks led the decline, with Nvidia tumbling 8% following a massive write-down, dragging the broader sector lower. The Philadelphia Semiconductor Index shed more than 5% in response. In contrast, retail sales surged ahead of an expected tariff increase, offering a rare bright spot in an otherwise turbulent session. Meanwhile, the US dollar slumped, boosting commodities — oil climbed 2%, while gold surged to record highs. Closer to home, ASX 200 futures point to a weaker open on Thursday, with local investors eyeing upcoming employment data. The Aussie dollar gained ground on US dollar weakness, adding to the global currency market shifts.

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