FX.co ★ US Stocks Hold Losses After FOMC

US stocks extended losses on Wednesday as rising energy prices added to an increasingly challenging macroeconomic backdrop. The S&P 500 and Nasdaq 100 were each down about 0.4%, while the Dow underperformed with a decline of roughly 1%. Treasury yields climbed after President Trump declared the ceasefire with Iran “over” following reciprocal strikes, a development that sent oil prices sharply higher and prompted markets to reassess inflation risks.

Concerns over renewed inflation pressures were reinforced by FOMC minutes showing that some policymakers advocated for a rate hike in June. Credit-sensitive sectors lagged, with JPMorgan and Visa each falling about 2%, while Home Depot and GE Vernova slid around 3%.

AI-exposed hyperscalers were mostly weaker, extending pressure from earlier in the week on worries about potential overspending in data center infrastructure. Alphabet, Amazon, and Microsoft all lost more than 1%. In contrast, Broadcom advanced 5% after broadening its agreement with Apple for US-made components, and Nvidia rose 1% amid reports that Chinese companies plan to increase purchases of its H200 chips.