In response to Powell’s policy, futures on Wall Street are down between 80 points to 100 points. This is also a reaction to results reported by big tech firms Meta, Microsoft and Google-parent Alphabet after market closing. Another victim of the Fed’s “hawkish cut” has been Gold, with futures prices declining well below the $4,000 an ounce mark. Lesser cuts from the Fed are negative for bullion prices as they it does not yield any interest.
