
U.S. stock indices closed lower yesterday as selling pressure in major tech stocks continued for the second consecutive day. The S&P 500 fell 0.36% on Monday, the Nasdaq dropped 0.47%, and the Dow Jones 0.44% , as investors trimmed exposure to AI and tech leaders like Nvidia, Tesla, Palantir, and Oracle. The Dow Jones is also expected to trade sideways, while the DAX may test higher resistance before correcting.
Markets remain largely range-bound across currencies as investors await clearer directional signals. The Dollar Index fell below 98.00 again. EUR/USD is stuck between 1.1750–1.1800, as it may be positioning for another leg upward. USD/JPY and EUR/JPY are likely to stay range-bound this week.
Asia-Pacific markets mostly declined as the tech sell-off on Wall Street weighed on sentiment amid renewed fears of an AI bubble. Losses in major U.S. tech stocks spilled into Asian trading.
In the commodities market, oil has rebounded but remains bearish for the long term. Precious metals had a turbulent session on Monday. Gold fell 5% from its record high of $4,550 to reach $4,303. It’s currently stabilizing around $4,370. Silver surged to a new record high yesterday reaching $83.75, but later a plummeted to $70.54. It’s currently trading at $75.00
The crypto market moved lower overall as risk-off sentiment dominated. Bitcoin slipped below $88,000, while Ethereum fell under $3,000.
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