Stocks Lower as Warsh Talk Tough on Inflation

MPC Markets Morning Call · Aug 30, 2026 · 9m

Fed Chair Warsh rattled markets with a hawkish Jackson Hole debut, sending two-year yields surging 12 basis points and rate-hike odds above 50% for September. The S&P 500 fell 0.25%, the Nasdaq dropped 0.52%, and the Russell slipped 1.4% as chip stocks led the sell-off — Nvidia down 4.5% despite a blowout quarter.

Mark and Philip cover Warsh's "firm and fixed" stance on the 2% target and whether the Fed will actually follow through, the gold and silver sell-off as the Debasement Trade unwinds, the U.S. strike on Iranian launchers at Larak Island with Hormuz still closed, and what it all means…