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As on : 30-Jul-2026

Market Commentary - Foreign Markets
30-Jul-2026 12:14

Wall Street loses ground as crude bounces and Fed leaves rates unchanged

Oil prices surged on Wednesday, with Brent crude rising 7.3% to $88.09 per barrel amid concerns about the conflict with Iran affecting oil supplies. In contrast, Wall Street faced losses; the S&P 500 dropped 1.5%, the Dow Jones lost 1,153 points (2.2%), and the Nasdaq fell 1.7%, now 9.8% below last month's record. The Federal Reserve decided to keep interest rates steady but hinted at potential future increases to control inflation, causing uncertainty in financial markets.

In South Korea, Samsung Electronics and SK Hynix led a sharp decline in the stock market, with the Kospi index falling 6%. Nvidia's stock contributed significantly to the S&P 500's drop after losing 3.6%. Hims & Hers Health plummeted 14.7% amid privacy allegations. Globally, stock indexes varied, with Hong Kong's Hang Seng rising 2% and Japan’s Nikkei 225 declining 1.5%. Treasury yields were fluctuating post-Fed announcement.

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