Global equity markets soared to unprecedented levels on Thursday, driven primarily by Wall Street’s bullish momentum and adjustments in interest rates by the U.S. Federal Reserve. The strong performance was further reinforced by the Federal Reserve’s decision to lower interest rates, the impact of which buoyed the S&P 500, Dow, and Nasdaq to hit record highs.
The U.S. dollar gained ground against major currencies, supported by the Federal Reserve’s policy decision, while the Bank of England opted to maintain its rates, influencing the pound’s decline. Meanwhile, the pan-European STOXX 600 index saw an increase, reflecting a broader investor optimism despite mixed results in individual currencies and commodities.
Economic movements weren’t confined to the U.S. alone. Norway’s central bank cut its policy rate, with plans for further reductions, while Germany and France experienced political and financial shifts, highlighting a global economic landscape in flux. Commodities such as oil and gold experienced pricing adjustments, setting the stage for cautious investor speculation.
(With inputs from agencies.)
