Crude oil prices rose amid heightened geopolitical risk as Iran conducted naval exercises near a key shipping corridor ahead of US talks. Asian stocks saw modest gains with light trading volumes, while investors awaited economic data. The US dollar fluctuated as traders anticipated Federal Reserve rate cuts.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.