S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Gold fell below $4,450 an ounce on Monday, extending a sharp drop in the previous session as hawkish remarks from Federal Reserve Chair Kevin Warsh revived expectations for an imminent interest rate hike. In his Jackson Hole address on Friday, Warsh warned that inflation is not easing significantly and reaffirmed the central bank’s commitment to bringing inflation back to its 2% target, while noting that financial conditions are not currently restrictive. Markets are now pricing in around a 57% chance of a 25-basis-point Fed rate hike in September, up sharply from roughly 40% a week earlier. Gold also remained pressured by rising oil prices after the US military targeted Iranian rocket launchers preparing to deploy mines into the Strait of Hormuz, marking the first such attack in more than a month. Still, the metal is on track to gain over 10% for the August, driven in large part by the so-called debasement trade.
