On August 29, Global X Silver Miners ETF declined 5.07% in regular trading, trading at $98.06/share, with turnover of $150 million.

On the news front, Fed Chair Kevin Warsh delivered a hawkish speech at the Jackson Hole symposium, stating that inflation data has not shown a significant trend improvement and that the Fed still has work to do if inflation cannot quickly return to the 2% target. This was compounded by the previously released U.S. July PCE price index rising 3.7% year-over-year, above market expectations of 3.6%. Market pricing for a September rate hike surged from approximately 35% to over 60%, with swap markets now betting on multiple rate hikes through mid-next year. The two-year Treasury yield jumped roughly 10 basis points to 4.33% following the speech, marking the most hawkish Jackson Hole address since 2009. The stronger dollar and rising yields weighed heavily on non-yielding precious metals, dragging silver miners sharply lower.

The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index is designed to measure broad-based equity market performance of global companies involved in the silver mining industry.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)