The ASX is set to open down this morning, with the US Federal Reserve deciding to keep interest rates on hold.It was the first meeting for new Fed Reserve chairman Kevin Warsh.Follow the day's market news in our blog.Disclaimer: this blog is not intended as investment advice.PinnedThu 18 Jun 2026 at 7:31amThu 18 Jun 2026 at 7:31amUpdateBy Alison BranleyMarket snapshotASX 200: +0.5% to 8,966 pointsAustralian dollar: +0.03% at 70.16 US centsWall Street: Dow Jones (-0.98%) to 51492.55, S&P 500 (-1.21%) to 7420.1Europe: FTSE 10508.61 (+0.14%)Asia: Nikkei (+0.72%), KOSPI (+1.58%), Hang Seng (-0.74%)Spot gold: -1.7% to $US4,256/ounceOil: -0.33% to $US78.7/barrelIron ore: -0.7% to $US100.80/tonneBitcoin: -0.22% to $US64,229Prices current at around 7:31am AESTLive updates on the major ASX indices:Collapse all postsThu 18 Jun 2026 at 7:47amThu 18 Jun 2026 at 7:47amNew Fed Reserve chair hasn't lost the plot, but does refuse to dotBy Alison BranleyLots of discussion this morning about new US Federal Reserve chair Kevin Warsh refusing to put a dot on the reserve's plot chart.So what's this plot business all about?Well in each meeting each of 19 members of the committee put an anonymous dot on a plot chart representing their personal guess for what will happen to federal interest rates at the end of the current year, over the next few years and in the long term.Investors are interested in the median dot (the middle one) because it gives a bit of an indication of whether the Reserve plans to raise, hold or lower interest rates.It was created in 2012 to stop Wall Street from guessing about future monetary policy and avoid "surprises".Traders use the plot to price everything from mortgage rates to savings account yields and Treasury bonds.On his omission, Warsh joked plot submissions come ​written with pencils "that have big erasers," adding that policymakers "don't feel bound by their dots."Thu 18 Jun 2026 at 7:22amThu 18 Jun 2026 at 7:22amGold prices fall, so do Brent crude and bitcoinBy Alison BranleyIn the US, Gold prices dropped 3.4% to $4,229 an ounce following the US Federal Reserve's decision to leave interest rates on hold.This morning it's down 1.7% to $4,255.Brent Crude continues its slide down to happier places to $78.72 USD a barrel, down 0.3%.Bitcoin was also down 0.15% to 64,276.Thu 18 Jun 2026 at 7:14amThu 18 Jun 2026 at 7:14amHSBC scam victims day in court todayBy Alison BranleySome big news expected locally today, as this fantastic article by my colleague ABC consumer affairs reporter Michael Atkin explains.Fraud victims are anxiously waiting to see if global bank HSBC will admit to the Federal Court that it failed to protect its customers from a long-running spoofing scam, potentially paving the way for a massive financial penalty.Hundreds of Australians were scammed out of huge sums of money over four years, where fraudsters used text messages to trick people into thinking their accounts had been compromised.Today in Melbourne, HSBC will front a Federal Court hearing where it is expected the bank will admit it failed customers in a statement of agreed facts.The lawsuit is the first of its kind in Australia, attempting to hold a bank to account for allegedly having inadequate processes to detect and prevent scam losses.Thu 18 Jun 2026 at 7:07amThu 18 Jun 2026 at 7:07amWarsh pledges to fight inflation, stays mum on projectionsBy Alison BranleyKevin Warsh used his first press conference as US Federal Reserve chair to pledge a fight against inflation, which was a surprise policy shift among some investors.Speculators suggest this means there's possibly one more rate hike in for the US this year, a big about-face from a mooted rate cut signposted in March."Persistently high prices are a burden for the American people. But the recent past need not be prologue," Warsh said in his first remarks."This committee will deliver price stability."The Fed's statement is now shorter and shows no intention about future interest-rate moves, the so called "forward guidance".Warsh refused to validate the market's read that a hike is now locked in. Warsh said the projections arrived like pencils "with the big erasers".They meet again in six weeks.- With Benzinga newswireThu 18 Jun 2026 at 6:59amThu 18 Jun 2026 at 6:59amDow Jones and Nasdaq both down after US rates left on holdBy Alison BranleyThe Dow Jones Industrial Average has taken a hit as late-hour selling spread throughout stocks after the Federal Reserve announced no move on interest rates at its first meeting overseen by new Fed chair Kevin Warsh.This morning, the Dow Jones Industrial Average was 51,492.55, down 0.98%.The Nasdaq was 26,021.66, down 1.35%Meanwhile, SpaceX marked its first drop as a publicly traded company on the stock market as shares fell 5%. Earlier, the Dow was on track for a fifth straight rise. It also struck an all-time high for a third straight session.SpaceX, which trades on the Nasdaq, has now skidded 15% below its intraday high of 225.64 set on Tuesday.Thu 18 Jun 2026 at 6:49amThu 18 Jun 2026 at 6:49amMorning allBy Alison BranleyGood morning. Alison Branley here with you this morning for the ABC News business blog.In a week with good news for borrowers and motorists, now here's some extra cheerful tidings, at least for the US borrowers.The US Federal Reserve has voted to keep interest rates on hold for the fourth time this year.It was the first meeting presided over by new chair Kevin Warsh.But it's not all sunshine with the ASX expected to open down on the news.Let's sit back with a cuppa and unpack what it all means for you.