Global markets showed strength after Jerome Powell hinted at possible rate cuts. Gift Nifty futures in India suggested a recovery. However, Indian cash markets showed caution. US markets rallied, increasing bets on a September rate cut. Powell mentioned tariff pressures affecting consumer prices. Investors should watch US economic data and the September FOMC meeting.
Global Market Today: Asian stocks decline in break from US chip rally
Losses were led by a more than 2% drop in South Korea’s Kospi Index — a bellwether for artificial intelligence investments — as chip heavyweight