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Rich Asplund

RARE PHOTOS: Stocks fall as hawkish warsh boosts fed rate hike chances | Vintage Vibes

Warsh United States Nasdaq University of Michigan Inflation US Federal Reserve Dow Jones Industrial Average Marvell Technology Nvidia

The S&P 500 Index ($SPX) (SPY) closed down by -0.25% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.02%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.70%. E-mini S&P futures (ESU26) fell -0.25%, and September E-mini Nasdaq futures (NQU26) fell -0.69%.

Stock indices gave up early gains on Friday and settled lower as bond yields rose after Fed Chair Warsh vowed to bring inflation back to target, bolstering the chance of a Fed rate hike next month. The chance for a Fed interest rate hike at next month’s FOMC meeting jumped to 57% from 36% before he spoke on Friday. The 10-year T-note yield rose +5 bp to 4.72%.

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