Fed's Stance and Iran Strikes: How Market Retreat Continues?

The market remained volatile as it digested the Fed's decision to hold interest rates steady, fresh US strikes on Iran, and the bond market's turmoil. Dow Jones, S&P 500, and Nasdaq-100 futures showed a rebound ahead of inflation data, but the chip sector's correction from last week persisted. Meta's stock dropped 9% after earnings missed expectations, while Microsoft's Azure business surpassing $100 billion in revenue boosted its stock by nearly 9%. Amazon and Apple's upcoming reports are key focuses. The 30-year Treasury yield hit a multidecade high of 5.24%, and concerns over Iran escalation are adding to market jitters. Investors will closely watch the PCE index and Q2 GDP data for further clarity.