The Federal Reserve kept the federal funds rate unchanged at 3.50% to 3.75% in its latest policy decision announced early July 30 Taiwan time.
According to ABMedia, three committee members voted in favor of a rate increase.
Major U.S. indexes closed lower as tech stocks led declines
U.S. equities finished the previous session in the red, with technology shares taking the heaviest pressure.
- The Dow Jones Industrial Average closed at 15,948.86, down 2.18%
- The NASDAQ closed at 24,442.94, down 1.74%
- The S&P 500 closed at 7,316.40, down 1.51%
AI and semiconductor names were the main focus of selling, and large-cap tech stocks broadly pulled back.
TSMC ADR fell more than 4%, while some names posted gains
TSMC ADR (TSM) closed at $374.72, down $17.59, a decline of 4.48%.
Other major technology stocks moved as follows:
- NVIDIA fell 3.50%
- Tesla fell 2.96%
- Microsoft fell 0.71%
- Apple fell 0.56%
Some tech stocks still finished higher:
- Alphabet rose 0.95%
- Meta rose 1.09%
- Palantir jumped 5.69%
Asian markets opened mixed, with Japan higher and South Korea lower
After the U.S. close, major Asian markets opened on diverging paths.
Japan’s Nikkei 225 held firm after the open. As of around 8 a.m. Taiwan time, the index was up 245.31 points, or 0.40%, at 61,679.50, as investors continued to digest the Fed’s latest decision and corporate earnings news.
South Korea’s KOSPI remained under selling pressure. After the open, it fell about 5.98% at one stage and touched an intraday low of 5,262.77. Before publication, the index stood at 5,663.24, still down 360.42 points, or 5.98%.
Markets now turn to data and Big Tech earnings
Next on investors’ radar are U.S. employment and inflation data, earnings reports from Apple and Amazon, and whether capital spending tied to the AI industry continues to grow. Those factors will shape expectations for both tech valuations and future Fed policy.