Nasdaq posts worst day since 2022 as Trump rattles markets [Video]

Anthony Cheung Amplify

Midweek turmoil hit global chip stocks following reports of tighter US export restrictions and rising geopolitical tensions, spurred by remarks from former President Donald Trump. We also unpack comments from the former US President on his thoughts on Federal Reserve Chair Jerome Powell, his view on interest rates, and why he may draft in help from J.P. Morgan CEO Jamie Dimon. On the other side of the Atlantic, UK inflation held steady in June, aligning with the Bank of England's 2% target. However, traders were more focused on the unexpected surge in inflation within the UK services sector. A must-listen for anyone looking to understand the interplay between current events and market dynamics! Introduction (00:01) Nasdaq sell-off (2:12) Trump rattles chip stocks (3:01) The sell-off in context (7:58) The impact on geopolitics (9:16) Fed Powell's comments on interest rates (12:13) Trump's comment on Powell's future (14:25) Could Jamie Dimon become Treasury Secretary (15:51) UK services inflation proves sticky (22:06).

Author

Anthony Cheung

Amplify

Anthony has spent over a decade working at the forefront of financial news.

GBP/USD holds gains below 1.3450 as markets bet on more BoE rate hikes

GBP/USD holds moderate gains but stays below 1.3450 in the European morning hours on Friday. The British Pound gains amid optimism on the UK government leadership transition and Bank of England rate hike bets. Meanwhile, the US Dollar loses ground on Middle East de-escalation and receding Fed rate hike expectations.

EUR/USD advances to 1.1450 on softer USD, ECB rate hike bets

EUR/USD advances to near 1.1450 in the early European hours on Friday, bolstered by a softer US Dollar. The European Central Bank is grappling with elevated core inflation, forcing traders to price in more aggressive tightening despite mixed guidance from ECB officials, lending support to the pair.

Gold flat lines above $4,100 amid weaker USD, Fed hike bets and Iran risks

Gold reverses a modest Asian session dip to the $4,109-$4,108 region, though it lacks bullish conviction. The US Dollar selling remains unabated for the third consecutive day in the wake of Wednesday's less hawkish FOMC Minutes and offers some support to the commodity. However, prospects of a Fed rate hike in 2026 remain active.

Zcash: Retail demand lifts ZEC price on new Ironwood shielded pool announcement

Zcash price shows mild recovery during early Asian hours, rising toward the $500 mark. Retail demand supports ZEC's recovery, with an 18% rise in its futures Open Interest, likely linked to the announcement of the Ironwood shielded pool. Technically, ZEC should clear a key Fibonacci resistance level near $520 to test its all-time high of $690.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June Federal Open Market Committee meeting landed mid-round-trip, describing a world that had already stopped existing.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.