Stock markets moved sideways Wednesday as chip and artificial intelligence stocks pulled major indexes lower. Federal Reserve Chairman Kevin Warsh declined to signal whether a rate hike would come in July, leaving investors uncertain about the Fed's next move.
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Stock markets traded sideways on Wednesday, with chip and artificial intelligence stocks weighing heavily on major indexes. Federal Reserve Chairman Kevin Warsh declined to say whether an interest-rate hike would be announced at the central bank's July meeting.
Why it matters
Weakness in chip and AI stocks signals investor caution in a sector that has driven much of the market's recent strength. Uncertainty about the Fed's rate path adds to that hesitation, as companies and investors alike await clarity on monetary policy direction.
What to watch
The outcome of the Fed's July meeting will be a key catalyst for market direction, especially for technology-heavy indexes that are sensitive to interest-rate expectations.
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