Stocks and Dollar Surge Amid Fed's Unexpected Stance

The global stock market momentum was halted on Wednesday following Jerome Powell's surprising stance on future rate cuts. Federal Reserve Chair dampened expectations for another December interest rate cut, causing U.S. Treasury yields and the dollar to surge.

Despite this, Nvidia made headlines as it became the world's first company to reach a $5 trillion valuation. Their shares soared after revealing plans for new supercomputers geared towards the U.S. Department of Energy, alongside substantial chip bookings.

While Wall Street closed with mixed results, investors now anticipate upcoming policy announcements from the Bank of Japan and the European Central Bank, which may further influence market directions.