US Stock Market Live Updates: Nasdaq plunges 1% at open as Google earnings reignite AI spending fears

US Stock Market Live Updates: Fed holds rates steady as investors await inflation data

The US Federal Reserve kept interest rates unchanged on Wednesday, as expected, while awaiting further inflation data. Investors turned their attention to September’s Personal Consumption Expenditures price index, the central bank’s preferred inflation gauge, and the third-quarter GDP reading due later on Thursday. According to the CME FedWatch Tool, traders saw more than an 81% chance of a rate hike in December. LSEG data also showed money market participants pricing in another rate increase by mid-2027, amid elevated inflation measures and an oil shock linked to the Middle East conflict.