US Equity Indexes Fall This Week as Big Tech Wobbles, Trump Proposes Inflation Hawk Warsh as Fed Chair

04:46 PM EST, 01/30/2026 (MT Newswires) -- US equity indexes declined this week as big tech reported mixed quarterly results, producer price inflation turned hot, and President Donald Trump nominated policy hawk Kevin Warsh as the next chair of the Federal Reserve.

The S&P 500 closed at 6,939.03 on Friday versus 6,940.01 a week ago. The Nasdaq Composite stood at about 23,461.82, compared with 23,515.39 a week earlier, and the Dow Jones Industrial Average ended at 48,892.47, versus 49,359.33 at the end of last week.

*Technology was among the worst performers as Microsoft's (MSFT) fiscal Q2 results hurt the sector. Communication services were among the top gainers amid strong results from Meta Platforms (META) .

* While Microsoft beat, Azure's 38% constant-currency growth disappointed investors. Capacity constraints and concerns over the durability of remaining performance obligations, given OpenAI's outsized 45% share in the RPO, weighed on sentiment.

* UnitedHealth (UNH) was among the health insurance stocks to fall after the Trump administration proposed nearly flat rates for Medicare insurers in 2027.

* Precious metals sank, and the dollar rose after President Donald Trump nominated Kevin Warsh, a former Fed governor, to succeed Jerome Powell as the next Fed chair. Warsh is said to be a proponent of a smaller Fed balance sheet, an inflation hawk, and a critic of quantitative easing, according to media reports. Senator Thom Tillis (R-NC), however, reiterated he will oppose confirmation of any nominee until the Department of Justice concludes its investigation into the Fed.

* The Fed kept rates unchanged, as expected, at a policy meeting. It upgraded its description of economic growth to "expanding at a solid pace" from a "moderate pace," while adding that "inflation remains somewhat elevated." Following the meeting on Wednesday, the odds of a policy pause at the Fed meeting in March jumped to 88% from 83% a day earlier and 47% a month ago, according to the CME FedWatch tool.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.