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Global Markets Recover as Investors Await Fed's Economic Outlook

U.S. stocks rally cautiously while gold prices hit record highs, reflecting persistent concerns over trade policies and geopolitical tensions.

A woman walks past a screen displaying the Hang Seng Index at Central district, in Hong Kong, China March 21, 2023. REUTERS/Tyrone Siu/File photo
U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File photo
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Overview

  • The S&P 500, Dow Jones, and Nasdaq posted modest gains over two consecutive sessions, recovering from recent correction territory.
  • The Federal Reserve begins a two-day policy meeting, with no rate changes expected but significant focus on its economic projections and commentary on trade-related risks.
  • Gold prices surged past $3,000 per ounce, driven by investor demand for safe-haven assets amid economic and geopolitical uncertainties.
  • Asian markets, led by Hong Kong, rallied on optimism about China's economic outlook and government measures to boost domestic consumption.
  • Geopolitical tensions, including Israeli airstrikes on Gaza and President Trump's call with Vladimir Putin regarding Ukraine, continue to weigh on investor sentiment.