Global Stocks, Gold Extend Losses as Warsh Spurs September Rate-Hike Bets
Updated
Updated · Bloomberg · Aug 31
Global Stocks, Gold Extend Losses as Warsh Spurs September Rate-Hike Bets
3 articles · Updated · Bloomberg · Aug 31
Summary
MSCI’s Asia equities gauge fell 0.7% and gold extended losses after Federal Reserve Chair Kevin Warsh’s hawkish remarks drove markets to price in a possible rate hike next month.
The selloff spread from Wall Street’s Friday retreat into Asia, hitting rate-sensitive and tech-heavy shares as investors reassessed the outlook for borrowing costs.
South Korea’s Kospi dropped 1.2%, with Samsung Electronics and SK Hynix leading declines and underscoring pressure on AI-linked chip stocks after last week’s semiconductor selloff.
Europe pointed lower in futures trading and Nasdaq 100 futures signaled further weakness, while oil rose separately as Middle East tensions flared.