ROTTERDAM, Netherlands (AP) — Giovanni van Bronckhorst was hired Wednesday to coach Feyenoord in the Champions League next season, replacing his Netherlands teammate from the 2010 World Cup final Robin van Persie.
Van Bronckhorst takes over again at Feyenoord where he won a Dutch league title as coach in 2017, the Rotterdam club said in a statement confirming he signed a two-year contract.
“Everybody knows my relationship with Feyenoord," said Van Bronckhorst, whose playing career started with the Rotterdam club. "The club is a red line through my life.”
Van Persie was fired this month despite leading the team to a runner-up finish behind PSV Eindhoven and direct entry to the Champions League.
After spending last season at Liverpool as an assistant to now-fired coach Arne Slot, Van Bronckhorst’s staff at Feyenoord will include Sipke Hulshoff, who also was at Anfield.
The 51-year-old Van Bronckhorst started and finished his playing career at Feyenoord, and also had spells at Arsenal, Barcelona and Rangers.
He retired after the 2010 World Cup, where he scored a spectacular goal in a semifinal win over Uruguay. The Dutch lost the final to Spain 1-0 in extra time.
Van Bronckhorst's coaching career includes his four seasons at Feyenoord until 2019 and taking Rangers to the Europa League final in 2022.
AP soccer: https://apnews.com/hub/soccer
FILE - Then-Rangers' head coach Giovanni van Bronckhorst claps his hands during the Europa League final soccer match between Eintracht Frankfurt and Rangers FC at the Ramon Sanchez Pizjuan stadium in Seville, Spain, May 18, 2022. (AP Photo/Manu Fernandez, File)
NEW YORK (AP) — The U.S. stock market is wavering Wednesday after several officials at the Federal Reserve indicated they may raise interest rates before the end of the year.
The S&P 500 fell 0.6% and erased an earlier, modest gain after the Fed released projections showing policymakers see the federal funds rate ending this year and the next two at higher levels than they had been forecasting a few months ago. Higher interest rates can keep a lid on inflation, but they also slow the economy and hurt prices for investments.
The Dow Jones Industrial Average went from a gain of 281 points before the Fed's announcement to a dip of 86 points, or 0.2%, as of 2:25 p.m. Eastern time. The Nasdaq composite slipped 0.6%.
In the bond market, Treasury yields rose after nine of 18 policymakers at the Fed said they are projecting at least one increase to the federal funds rate by the end of this year. One policymaker did not submit a forecast following the first meeting by the Fed since Kevin Warsh took over as chair.
The yield on the 10-year Treasury, which influences rates for mortgages and other loans going to U.S. households and businesses, rose to 4.45% from 4.43% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for Fed action, jumped more. It climbed to 4.14% from 4.05%.
High yields in bond markets worldwide caused by worries about inflation have been threatening to slow economies and undercut prices for all kinds of investments.
In the stock market, SpaceX erased an early gain and dropped 2.4%. It's potentially on track for its first loss since its ballyhooed debut on the U.S. stock market last week.
That helped overshadow a jump of 19.1% for La-Z-Boy, which reported stronger profit and revenue for the latest quarter than analysts expected. It benefited from revenue made at newly opened stores, though Chief Financial Officer Taylor Luebke said the company continues to have “a measured view” of the broad sales environment.
A report released Wednesday said retailers across the country saw their revenue grow at a faster pace in May than economists expected, offering hope that solid spending by consumers can support the economy. But high inflation has also made U.S. shoppers feel more discouraged about their finances.
Iran is set to immediately take steps to reopen the Strait of Hormuz once the deal is signed, and that would allow oil tankers to exit the Persian Gulf once again and deliver crude to customers worldwide. The hope is that will take pressure off inflation.
Oil prices were steadier Wednesday following sharp slides earlier in the week on optimism about the tentative U.S.-Iran deal to get the global flow of oil going again. The price for a barrel of Brent crude oil rose 0.5% to $79.35. It’s still above its roughly $70 price from before the war, but it’s well below its $100-plus price from a few weeks ago.
Iran is set to immediately take steps to reopen the Strait of Hormuz once the deal is signed, and that would allow oil tankers to exit the Persian Gulf once again and deliver crude to customers worldwide. The hope is that will take pressure off inflation.
In stock markets abroad, indexes were mixed across Europe and Asia.
London’s FTSE 100 added 0.1% after a report showed U.K. inflation remained at 2.8% in May.
South Korea’s Kospi jumped 1.6%, and Hong Kong’s Hang Seng fell 0.7% for two of the world’s bigger moves.
AP Business Writers Chan Ho-him, Matt Ott and Elaine Kurtenbach contributed to this report.
Specialist Michael Pistillo, left, and trader Sean Spain work on the floor of the New York Stock Exchange, Tuesday, June 16, 2026. (AP Photo/Richard Drew)
Options trader Joseph D'Arrigo works on the floor of the New York Stock Exchange, Tuesday, June 16, 2026. (AP Photo/Richard Drew)
Employees of a securities company celebrate as Japan's benchmark Nikkei 225 topped 70,000 for the first time during trading hours in Tokyo Tuesday, June 16, 2026. A sign, left, reads " Congratulations. Nikkei index reached 70,000 yen." (Shinji Kouchi/Kyodo News via AP)
Employees of a securities company celebrate as Japan's benchmark Nikkei 225 topped 70,000 for the first time during trading hours in Tokyo Tuesday, June 16, 2026. A sign, left, reads "Congratulations. Nikkei index reached 70,000 yen." (Shinji Kouchi/Kyodo News via AP)
An electronic board, left, shows Nikkei index at a securities company in Tokyo Tuesday, June 16, 2026. (Shinji Kouchi/Kyodo News via AP)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 17, 2026. (AP Photo/Ahn Young-joon)
A currency trader stretches near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 17, 2026. (AP Photo/Ahn Young-joon)
