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In early European trading, Germany’s DAX fell 0.2% to 24,236.16. Britain’s FTSE 100 gave up 0.2% to 9,269.31, while the CAC 40 in Paris shed 0.5% to 7,931.26.

The future for the S&P 500 edged 0.1% lower, while that for the Dow Jones Industrial Average slid 0.3%.

The Fed has kept its main interest rate steady this year, concerned that President could push higher. But a on job growth across the U.S. may be superseding that.

Still, from the Fed’s July 29-30 meeting showed most Fed officials felt the threat of higher inflation was a than the potential for job losses, leading the central bank to keep its key rate unchanged.

In Asian trading, Tokyo's Nikkei 225 fell 0.6% to 42,610.17 after a survey showed Japan’s factory activity remained in contraction for the second month in August. The S&P Global flash Japan Manufacturing Purchasing Managers’ Index (PMI) increased to 49.9 in August from 48.9 in July, just below the 50 level marking the cutoff between growth and decline.

Regional manufacturers have been feeling pressure from Trump's higher tariffs on exports to the United States.

Hong Kong’s Hang Seng index edged 0.2% lower to 25,104.61, while the Shanghai composite index rose 0.1% to 3,771.10.

“Asian markets walked into Thursday like a card room still heavy with last night’s smoke — muted, watchful, waiting for the next cue out of Jackson Hole,� Stephen Innes of SPI Asset Management said in a commentary.

The exception was Australia, where the S&P/ASX 200 index added 1.1% to 9,019.10, surpassing the 9,000 level for the first time in a rally driven by strong economic data and corporate earnings.

In South Korea, the Kospi added 0.4% to 3,141.74 after shedding some its morning gains.

Taiwan’s TAIEX climbed 1.4%, while India’s Sensex added 0.3%.

On Wednesday, the S&P 500 dipped 0.2% after trimming a 1.1% loss earlier in the day. It is still near its set last week.

The Dow Jones Industrial Average added less than 0.1% and the Nasdaq composite fell 0.7%.

The day’s action centered again around stocks caught up in the mania around .

Nvidia, whose chips are powering much of the world’s move into AI, sank as much as 3.9% during the morning and was on track to be the heaviest weight on Wall Street following its 3.5% fall on Tuesday.

But it clawed back nearly all of Wednesday’s drop and finished with a dip of just 0.1%. As it pared its loss, so did broad market indexes because Nvidia is Wall Street’s most influential stock by being its most valuable.

Palantir Technologies, another AI darling, fell 1.1% to add to its 9.4% loss from the day before, but it had been down as much as 9.8% Wednesday morning.

In other dealings Thursday, US. benchmark crude gained 66 cents to $63.37 per barrel. Brent crude, the international standard added 65 cents to $67.49 per barrel.

The U.S. dollar rose to 147.74 Japanese yen, from 147.29 yen. The euro edged slightly higher to $1.1654 from $1.1651.