India, Aug. 28 -- Anxiety ahead of the GDP update from U.S.A, the cooling tech rally as well as anxiety about the Fed's rate cuts swayed global market sentiment. Markets expect an uptick in the GDP update while anticipating the weekly level of initial jobless claims to record a decline.
The U.S economy had grown at an annualized 3 percent in the second quarter of 2025, rebounding from a 0.5 percent contraction in the first quarter, and beating expectations of a 2.4 percent rise, according to the advance estimate.
The CME FedWatch tool that tracks the expectations of interest rate traders currently shows expectations of a quarter-point rate cut by the Fed in September at 88.3 percent versus 88.7 percent a day earlier.
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