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Dow sinks 1,100 points after Fed holds off on hike

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Stocks fell sharply Wednesday as the Federal Reserve held interest rates steady again despite continued inflation pressure. The Dow Jones Industrial Average closed down 1,153.18 points, or 2.19 percent, for its worst decline since April 2025 — when President Trump unveiled his sweeping “Liberation Day” tariffs. The S&P 500 dipped by 1.52 percent, falling to…

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Fetterman Is So Unpopular That He Loses to “Someone Else” by 18 Points in Poll

Truthout

1 hour ago

Fetterman Is So Unpopular That He Loses to “Someone Else” by 18 Points in Poll

Nearly 60 percent of respondents said they’d go for anyone other than him if the Senate race were today.

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Bank of England holds interest rates despite Iran war inflation threat - as it happened

US news | The Guardian

3 hours ago

Bank of England holds interest rates despite Iran war inflation threat - as it happened

Live, rolling coverage of business, economics and financial markets as three members of monetary policy committee vote to raise ratesThat German GDP reading has indeed contributed to the wider eurozone hitting expectations – and then some.The eurozone economy grew by 0.4% in the second quarter of 2026, according to the preliminary reading from Eurostat – defying the gloom caused by the US-Israeli war on Iran. Continue reading...

Center Left

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Rebellion against 'oblivious' Trump tanks Dow in worst day of the year

Alternet.org

3 hours ago

Rebellion against 'oblivious' Trump tanks Dow in worst day of the year

Many critics anticipated that when President Donald Trump appointed Kevin Warsh as chairman of the Federal Reserve, he was getting a hack who would follow Trump’s order to cut rates regardless of the explosive consequences.On Wednesday, that’s not what happened — and Trump is likely stewing.“[Warsh’s] hard line on inflation must have … surprised Warsh’s patron, President Trump,” argued American Prospect co-founder Robert Kuttner.The Federal Reserve refused to lower interest rates from its current target range of 3.5 to 3.75 percent for short-term rates. Worse for Trump, the vote of the whole fed was 9-to-3, with three regional bank presidents voting to raise the target range for the federal funds rate by a quarter percentage point. Kuttner said this was the first time since 2016 that three officials dissented in the same direction.“The split vote signals that the Fed, despite President Trump’s wishes for a rate cut, is likely to vote for a rate hike between now and the November midterms. That’s because several factors, some of them of Trump’s own making, are increasing inflation, including the Iran war and retail price increases resulting from Trump’s tariffs,” said Kuttner.The decision to keep rates steady “tanked the Dow,” according to CNN anchor Kasie Hunt, delivering “the worst trading day for more than year.”But if Trump is stomping around the White House right now he only has himself to blame, said Kuttner.“Our impulsive and oblivious president is not good at connecting dots. One set of Trump policies raises inflation, while Trump pressures the Fed to ignore the problem and cut interest rates,” said Kuttner. “In his report to Congress on July 15, Kevin Warsh … surprised many observers by ignoring the Fed’s ‘dual mandate’ to pursue both price stability and high employment. In fact, Warsh had said, “The members of our [Federal Open Market] Committee have no tolerance for persistently elevated inflation. And we share a resolute commitment to restoring price stability.”Plus, Kuttner said Warsh made no mention at all of employment, implying Trump should have seen this coming.“Bonds are under pressure because of the massive increases in the federal debt under Trump, compounded by a lot of borrowing for the AI bubble and data center build-out. In many respects, these signals are a more important factor in Fed thinking than the month-to-month inflation rate,” Kuttner said. Worse for Trump, there are two more meetings of the policy-setting Federal Open Market Committee between now and November, when Trump’s voters are likely to show Trump how unhappy they are with his economy. And the challenge facing the Fed is that the widely expected rate hike won’t even be able to act fast enough to fix what’s broken about Trump’s economy.“And since the inflation is not the result of overheated demand but of the impact of the Iran war and Trump’s tariffs, higher rates will not moderate these prices,” said Kuttner. “But leaving rates alone would signal an indulgence of inflation that Warsh and his colleagues want to avoid.”

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Stocks rebound from steep Fed sell-off as investors doubt whether Warsh will raise interest rates

New York Post

3 hours ago

Stocks rebound from steep Fed sell-off as investors doubt whether Warsh will raise interest rates

Meanwhile, key oil benchmarks fell Thursday despite rising tensions in the Middle East.

Right

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Bloomberg Politics

4 hours ago

Kevin Warsh Sparks Bond Rout After Fed Decision; US Strikes Iran Again | Daybreak Europe 7/30/2026

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, US 30-year treasury yields hit their highest since 2007 after the Federal Reserve held interest rates for the fifth straight meeting. The hold raised doubts about Chairman Kevin Warsh's commitment to tackling inflation. Samsung reported a 250-fold jump in profit at its semiconductor arm, easily beating expectations. Microsoft’s cloud unit grew at the fastest clip in four years. Today's guests: Jean-François Decaux, JCDecaux, Co-CEO; Ellie Henderson, Investec, Economist & Olivier Blum, Schneider Electric, CEO (Source: Bloomberg)

Center

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Politics

4 hours ago

Analysis: Fed Chairman Warsh's credibility in question after leaving interest rates unchanged

The Fed held interest rates steady, but long-term Treasury yields jumped. Investors are questioning whether he will act forcefully enough on inflation.

Center

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Teen girls say WNBA co-owner CURSED at them for holding sign thanking Sophie Cunningham during game

Blaze Media

7 hours ago

Teen girls say WNBA co-owner CURSED at them for holding sign thanking Sophie Cunningham during game

The woke backlash against WNBA player Sophie Cunningham defending women in sports has seemingly morphed into fury against two teenage girls who held up a sign at a game Tuesday in Seattle, where the Seattle Storm were taking on Cunningham's Indiana Fever.The sign read, "Thank you Sophie for speaking up for girls!" and the girls wore shirts from the XX-XY athletics brand that promotes opposition to biological males in women's sports.'We weren't trying to be political. We were just trying to support Sophie.'"We were being super respectful. We were just holding our signs and cheering for both teams," one of the teens said to investigative journalist Brandi Kruse.The teens said an older lady confronted them, told them that "Jesus loves everyone," and then called them "f**king insane" while pointing to her head."For you to come here and pull this s**t," she reportedly added.Kruse posted video on social media of her interview with the girls from outside the Seattle Storm arena. Kruse also identified the culprit as Storm co-owner Celeste Keaton."One of them was left in tears," Kruse said of the girls. "I tried to get security involved and was told I should email the front office."One of the teens said she was shocked by the co-owner's behavior."She's also a woman, and she just kinda cussed out two 16-year-olds that were just trying to have fun. We weren't trying to be political. We were just trying to support Sophie," she added.The team responded to reports of the incident with a statement from majority owner Ginny Gilder."We are aware one of our co-owners made comments to two fans in attendance at last night's game," the statement reads. "We apologize that this happened. Everyone who attends a Storm game deserves to feel welcome, and we remain committed to creating an inclusive environment where every fan is treated with respect."RELATED: Caitlin Clark puts black lesbians at risk of death, USA Today writer suggests — and cites Emmett Till lynching Kruse asked one of the teens to sum up her takeaway from the incident."Maybe we're not being very hateful, and maybe they should work on being more kind to people, even though our opinions differ," she said. "Because we were being respectful and kind people, and I don't care if you think something else. It's your opinion, but obviously she was not happy."Kruse said she would continue to investigate the incident."As usual, the people preaching 'love and inclusion' prove to be the most hateful bigots of all. I will have much more ... and none of the culprits will be spared my fury," she added.The Fever beat the Storm, 105-95.Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!

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Blanche's nomination for AG on hold over fate of DOJ's "anti-weaponization fund"

Politics - CBSNews.com

12 hours ago

Blanche's nomination for AG on hold over fate of DOJ's "anti-weaponization fund"

Republican Sen. John Cornyn has demanded formal modifications to an agreement the Justice Department made with President Trump to settle his lawsuit against the IRS.

Center

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Dow sinks 1,100 points after Fed holds off on hike

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Dow sinks 1,100 points after Fed holds off on hike

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