US stocks dip as Trump announces Warsh Fed pick

New York, Jan 30, 2026 (AFP)
Wall Street stocks dipped early Friday as markets digested the nomination of Kevin Warsh as Federal Reserve chair and reviewed mixed corporate earnings.
US President Donald Trump's decision to pick Warsh, a former Fed governor, follows a closely watched search for a successor to Fed Chair Jerome Powell, whom the president has repeatedly lambasted for not cutting interest rates more swiftly.
Warsh "was actually a bit of an inflation hawk, which in some ways makes him a bit of a curious choice for a president that has been demanding lower rates," said Interactive Brokers' Steve Sosnick.
About 20 minutes into trading the Dow Jones Industrial Average was down 0.3 percent at 48,919.28.
The broad-based S&P 500 declined 0.3 percent to 6,951.82, while the tech-rich Nasdaq Composite Index shed 0.2 percent to 23,643.62.
"Stocks are reacting a little bit negatively, because (Warsh) may not be as dovish as I think a lot of the bulls were hoping," Sosnick said.
Among individual companies, Apple fell 1.9 percent despite reporting record quarterly profits of $42.1 billion.
The market's reaction likely stems in part from unease over Apple's decision to employ Google AI technology rather than pursue the technology in house, said a note from Briefing.com.

Sumber : AFP