Global Markets Soar Amid Dollar's Decline

Global shares soared to their third consecutive record high as the U.S. dollar fell to a three-year low, reflecting market unease about the Federal Reserve's autonomy.

The dollar index dropped 0.43% during the session, marking a 10% fall this year, its steepest first-half decline since currencies began free-floating in the 1970s. Major U.S. indices, including the S&P 500 and Nasdaq, approached new heights, and European stocks saw slight gains.

Speculation over President Trump potentially replacing Fed Chair Jerome Powell intensified market tensions, impacting investor confidence and contributing to the dollar's weakness. Gold and other commodities responded accordingly, while bond yields fell amid expectations of rate cuts.

(With inputs from agencies.)