US stocks fell yesterday after Trump nominated Warsh to lead the US central bank, a decision that many investors view as a hawkish pick.
Investors expect Warsh to support lower interest rates but stop well short of a more aggressive monetary policy easing associated with some of the other potential nominees. His appointment needs Senate confirmation.
Meanwhile, producer prices increased more than expected in December, suggesting inflation could pick up in the months ahead.
The Dow Jones Industrial Average fell 113.32 points, or 0.23pc to 48,958.24, the S&P 500 lost 14.11 points, or 0.20pc, to 6,954.90 and the Nasdaq Composite lost 61.97 points, or 0.27pc, to 23,621.32.
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