Dollar Soars To 2-Mo Highs, Stocks Stumble As Hawkish Powell Trumps Dovish Fed

The best financial instrument to show today's chaos is probably the odds of a September rate cut... A clear dovish bias in the FOMC statement (dovish dissents and moderating growth fears) sent the odds of a cut notably higher then Fed Chair Powell stole the jam out of that donut with a series of less-than-dovish comments, sending rate-cut odds reeling lower...