**Fed Chair Powell's Comments Drive U.S. Markets Lower; Mixed Global Market Reactions**

On Thursday, U.S. markets saw a downturn after Federal Reserve Chair Jerome Powell dashed hopes for an imminent interest rate cut. Powell pointed to continued economic growth, robust job markets, and persistent inflation as reasons for maintaining current rates. His remarks followed the release of data showing a 0.2% increase in producer prices for October, which matched market expectations.

Consequently, traders pulled back on expectations for a December rate cut, leading to declines in key indices. The Dow Jones Industrial Average fell by 0.47%, closing at 43,750.86. The S&P 500 declined by 0.50% to 5,949.17, while the Nasdaq Composite dropped 0.64%, ending the day at 19,107.65. Most sectors within the S&P 500 experienced losses, particularly consumer discretionary, industrials, and healthcare, although tech and energy stocks managed to close higher.

Across the Pacific, market reactions varied. Japan's Nikkei 225 slipped 0.35%, concluding the session at 38,637.50, influenced by gains in the warehousing, shipbuilding, and trading sectors. In contrast, Australia’s S&P/ASX 200 rose 0.74% to finish at 8,285.20, buoyed by the utilities, gold, and financials sectors. Meanwhile, China's Shanghai Composite saw a significant decline of 1.45% to close at 3,330.73, with the Shenzhen CSI 300 falling 1.75% to 3,968.83. Hong Kong's Hang Seng marginally decreased by 0.09%, ending at 19,426.34.

In Europe, market performance was mixed. The European STOXX 50 index fell 0.23%, while Germany’s DAX slightly increased by 0.14%. The UK’s FTSE 100 had a modest uptick of 0.02%, against a backdrop of weaker U.K. growth figures, rising French inflation, and the Federal Reserve's hawkish stance.

Commodity markets also experienced volatility. Crude oil prices fell, with WTI down by 1.35% at $67.78 per barrel and Brent decreasing 1.28% to $71.63 per barrel, pressured by concerns over waning Chinese demand and reduced expectations for U.S. interest rate cuts. Natural gas prices dropped by 2.44% to $2.717. However, precious metals saw minor gains, with gold edging up 0.04% to $2,573.80, silver rising 0.16% to $30.610, and copper climbing 1.6% to $4.1420.

In the forex market, the U.S. Dollar Index eased by 0.15% to 106.51, while the USD/JPY pair decreased by 0.60% to 155.30. The USD/AUD also slid 0.25% to 1.5453. Powell’s hawkish comments bolstered Treasury yields, leading to a stronger dollar and exerting downward pressure on the euro, gold, and oil prices.

Overall, Powell's statements have cast a shadow over market sentiment, prompting a reassessment of near-term economic expectations and influencing a broad array of markets worldwide.