Wall Street Futures Dip as Trump Nears Fed Chief Announcement; Nasdaq, Dow Jones Down 1%

• Wall Street futures, including Nasdaq and Dow Jones, declined by up to 1% ahead of President Trump's announcement of the new Federal Reserve chief.
• Investors adopted a cautious stance, anticipating the selection of the next Fed chair, with reports suggesting former Federal Reserve Governor Kevin Warsh as the leading candidate.
• Warsh is considered a hawkish candidate, raising concerns among market participants about potentially higher interest rates and a tighter monetary policy.
• Global markets reacted with stocks declining, while the dollar and US bond yields rose following Trump's confirmation of his selection.
• Domestically, Indian equity benchmarks BSE Sensex and NSE Nifty also traded lower, ending a three-day rally.

Why It Matters: Wall Street and global markets fell as investors awaited Trump's hawkish Fed chief pick, impacting equities and bonds.