Global Market Fluctuations and Geopolitical Impacts

MSCI's global equities gauge remained stable on Wednesday, while the dollar appreciated and gold prices dipped following Federal Reserve Chair Jerome Powell's cautious remarks regarding future U.S. interest rate cuts.

Investors were still pricing in a potential rate cut in October as European defense stocks surged amid U.S. President Trump's supportive stance towards Ukraine. Despite high Wall Street records earlier in the week, stocks showed minimal movement with gold still fluctuating due to geopolitical tensions.

Meanwhile, the U.S. dollar strengthened, and oil prices rose over 1% as reports of declining U.S. crude inventories surfaced, paired with ongoing export challenges in Kurdistan, Venezuela, and Russia, driving the market sentiment towards a tightening supply.

(With inputs from agencies.)