Market Report, 2026-01-30

A series of asset price plunges took place on Friday after President Trump named Kevin Warsh as his pick to replace the Federal Reserve Chair. Kevin Warsh is historically regarded as a hawkish monetary policymaker who prioritizes low inflation. His past tenure as a Federal Reserve Governor during the Great Financial Crisis built his reputation as a critic of aggressive expansionary policies.

The U.S. dollar rallied significantly, while broader assets experienced declines. The Dow Jones Industrial Average retreated 179 points to 48,892. The NASDAQ dipped 1.28% to 25,552, and the S&P 500 ended the day 0.43% lower. Sector performance showed that technology continued to decline significantly, whereas traditionally more defensive and consumer-facing sectors rallied.

The yield curve steepened as longer-term yields increased while shorter-term yields declined. The 5-year Treasury yield is now 1 basis point lower at 3.79%, while the 10-year yield is 1 basis point higher at 4.24%.

Gold and silver prices crashed today as confidence in the U.S. dollar was restored. Gold lost more than 8% of its value, and silver lost more than a quarter of its value.

This week has seen significant turbulence in the precious metals market, with violent upside and downside swings in both gold and silver as risk calculations shifted continuously. Precious metals derive their value from relative scarcity, which can help diversify risk away from fiat currencies in an uncertain world; however, swings in their prices can also bring heightened volatility in both directions.
Adams Wealth Advisors wish you a great weekend, and we will continue to update you next week.