On Wednesday, the Federal Reserve raised interest rates for the first time since July 2023, causing the U.S. Dollar Index to surge sharply above the 100 mark. It ultimately closed up 0.7% at 100.1, marking its largest single-day gain since June 17.The yield on the benchmark 10-year U.S. Treasury note staged a sharp V-shaped rebound, remaining above the 5% psychological threshold and ultimately closing at 5.027%; the yield on the 2-year U.S. Treasury note, which is sensitive to the Fed’s policy rate, rose more than 7 basis points to 4.749%.
Spot gold traded higher early in the session but later retreated, hitting an intraday high of $4,366.65 per ounce,but plummeted after the Fed announced its interest rate decision, falling as low as $4,235.24 per ounce, and ultimately closed down 0.7% at $4,264.26 per ounce;Spot silver ultimately closed down 1.05% at $63.01 per ounce.
International oil prices retreated somewhat as the Trump administration sought to ensure that the Saudi East-West oil pipeline could be repaired within a few days.After U.S. EIA crude oil inventory data showed a smaller-than-expected decline, WTI crude accelerated its decline at one point and ultimately closed down 3.43% at $97.50 per barrel; Brent crude closed down 2.66% at $102.17 per barrel.
All three major U.S. stock indices fell, with the Dow Jones Industrial Average closing down 1.2%, the S&P 500 down 0.44%, and the Nasdaq down 0.01%.Intel (INTC.O) rose 4%, SpaceX (SPCX.O) rose 5%, while Goldman Sachs (GS.N) and Boeing (BA.N) fell nearly 4%.The Nasdaq Golden Dragon China Index closed down 0.55%; iQIYI (IQ.O) rose 8%, while Alibaba (BABA.N) fell 2%.