Markets Reprice Amid Fed Uncertainty, AI Spending and Binance Incident

Market repricing reflected central-bank uncertainty, technology companies’ AI spending and a Binance security incident as investors weighed possible rate increases abroad in December. The Federal Reserve held the federal funds target range at 3.75%-4.00% in a 10-2 vote at its October meeting. Fed Chair Warsh made no commitment to a rate move in December or later. The Fed also announced that one meeting in 2027 and two in 2028 would have no rate vote and would be used to discuss monetary policy strategy.