At a press conference Fed chair Kevin Warsh said markets have priced a tighter policy path in the absence of central guidance, but the Fed does not have to follow traders' pricing. "I am comforted that between meetings markets have adjusted pricing not because of us but reflecting tighter financial conditions," he said, adding "I think that's a beneficial development." He added the Fed "does not endorse or support any particular market move" but will monitor market dynamics closely.

美联储主席沃什：我们在观察收益率上升，正努力置身事外。

William Bratton, head of cash equities research at BNP Paribas SA, said volatility in South Korea’s stock market highlights a disconnect between tech stock moves and earnings prospects. Year-to-date the KOSPI has accounted for 79% of single-day moves exceeding 5% among major Asian indices; the selling appears driven mainly by anxiety over the durability of AI-related spending. He expects market volatility to remain elevated.