Banque Suisse,
Focus Méditerranéen

A rally that sent the US stock benchmark to the brink of a record paused before the first Federal Reserve rate decision under Kevin Warsh, with a another slide in oil prices driving bond yields lower. In a rotation to economically sensitive areas of Wall Street, a selloff in chipmakers after a strong advance dragged down the S&P 500. The Nasdaq 100 dropped about 2%. A post-IPO surge in SpaceX approached 50%. The Dow Jones Industrial Average hit fresh all-time highs. Oil slipped below $80 on expectations for a revival in supplies. US stock futures and bonds climbed as oil fell further, with investors awaiting the Federal Reserve’s policy decision for fresh clues on the outlook for global interest rates.