Australian shares are set for a modest opening advance. An initial tumble in New York failed to hold as dip buyers rushed in, helping the Dow edge higher and the S&P 500 to significantly pare its losses.
The S&P 500 ended down 0.2 per cent.
Nerves are fraying in part because of a renewed attack on the Federal Reserve by President Donald Trump and his allies, as well as uncertainty before a key speech by Fed chairman Jerome Powell on Friday (Saturday AEST).
Most Federal Reserve officials highlighted the risk to inflation as outweighing concerns over the labour market at their meeting last month, as tariffs fuelled a growing divide within the central bank’s rate-setting committee, Bloomberg reported.
Officials acknowledged worries over higher inflation and weaker employment, but “a majority of participants judged the upside risk to inflation as the greater of these two risks,” the minutes of the Federal Open Market Committee’s July 29-30 meeting said.
Source: https://www.afr.com/markets/equity-markets/asx-to-edge-up-s-and-p-500-sheds-1-5trn-amid-tech-sell-off-20250821-p5mokx