Federal Reserve Hikes Rates by 25 bps; Turkish Stock Market Triggers Circuit Breaker

The Federal Reserve unanimously approved a 25 basis point interest rate hike on September 17, with officials signaling the potential for further increases this year to combat persistent inflation. Fed Chair Jerome Powell (沃什) noted economic resilience and declined to provide forward guidance. The hawkish stance pushed 2-year Treasury yields higher, while the 10-year yield surpassed 5%. Gold prices retreated, and the U.S. dollar index broke through the 100 level. Additionally, the Turkish stock market triggered a circuit breaker after falling 6% during intraday trading.