Global markets fluctuate as Trump nominates Kevin Warsh to lead the Federal Reserve
President Trump's nomination of Kevin Warsh to lead the Federal Reserve coincided with swings in equities and metals. Markets are currently repricing assets.
Insights:
President Donald Trump trumphas nominated Kevin Warsh kevin warshto lead the Federal Reserve, a move that coincided with a day of broad market volatility across the US 
US and global markets. The MSCI gauge of global stocks rose 2.71 points, or 0.26%, to 1,046.48. However, major domestic indexes were mixed as the session progressed. By 11:16 a.m. ET (1616 GMT), the S&P 500 fell 32.07 points, or 0.46%, to 6,944.37 and the Nasdaq Composite fell 239.39 points, or 1.01%, to 23,352.71. Conversely, the Dow Jones Industrial Average rose 42.46 points, or 0.09%, to 49,450.12.
US and global markets. The MSCI gauge of global stocks rose 2.71 points, or 0.26%, to 1,046.48. However, major domestic indexes were mixed as the session progressed. By 11:16 a.m. ET (1616 GMT), the S&P 500 fell 32.07 points, or 0.46%, to 6,944.37 and the Nasdaq Composite fell 239.39 points, or 1.01%, to 23,352.71. Conversely, the Dow Jones Industrial Average rose 42.46 points, or 0.09%, to 49,450.12.The nomination of Kevin Warshhas produced a hawkish bias in market perceptions, contributing to an environment where commodities stocks and the dollar have whipsawed. The CBOE volatility index suddenly rallied near the end of the first half hour of the USstock market session. Investors also navigated through a partial government shutdown, which resulted in delays for various USeconomic data releases. In Europe, the pan-European STOXX 600 index remained flat after hitting a record high earlier in the day.
