The Federal Reserve maintained its interest rate steady, despite three bank presidents advocating for a quarter-point increase. This marks the first time since 2016 that three officials dissented in the same direction, signaling mounting pressure to address inflation.

Fed Chairman Kevin Warsh suggested that rising Treasury yields effectively represented rate hikes. However, reporters questioned his stance on initiating further rate increases. In response, stocks declined and bond yields increased, with the Dow Jones Industrial Average falling 1153 points. The Nasdaq Composite and S&P 500 also saw decreases.

Separately, oil prices surged following Iran's missile attack on U.S. forces in Jordan. The price of international benchmark crude futures rose significantly. In corporate news, Gucci owner Kering's shares rose after reporting improved sales trends, while Hermes experienced a decline due to disappointing Chinese sales.