Warsh's Hawkish Turn Sends Stocks Lower as Rate Hike Odds Soar

57.4% — the new probability of a September Fed rate hike after Chair Kevin Warsh's hawkish Jackson Hole debut turned the market's summer nap into a nervous twitch.

Money Moves

• Dow Jones Industrial Average closed down 0.02% to 53,560, but eked out a 0.5% weekly gain.
• S&P 500 shed 0.3% to 7,711, still up 0.5% for the week despite the Friday fade.
• Nasdaq Composite dropped 0.5% to 26,402, though the tech-heavy...