US Markets Weekly: Hawkish Fed Stance Hits Tech Stocks as Geopolitical Tensions Boost Oil

U.S. stocks closed lower last week as Federal Reserve Chair Jerome Powell signaled a hawkish stance at Jackson Hole, pushing the probability of a September rate hike to nearly 60%. The 10-year Treasury yield rose to 4.718%, while the 2-year yield surged, reflecting market expectations for more aggressive tightening. Geopolitical tensions escalated following mutual strikes between the U.S. and Iran, causing oil prices to rise. Meanwhile, Donald Trump announced a major oil deal with Venezuela, creating a complex supply outlook. Chip stocks, including Nvidia,