Web Trader MT5 
U.S. Indices were mostly down on Wednesday, led by Alphabet, following a sharp sell-off in software stocks. S&P 500 and Nasdaq 100 dropped 0.1% and 1.15% respectively, while Dow Jones closed 0.4% higher.
Alphabet shares dropped after earnings, but its plans to significantly ramp up AI spending lifted chipmakers like Nvidia and Broadcom, supporting sentiment around the AI trade.
The gains in stock futures on Thursday followed a volatile session in which the S&P 500 and Nasdaq fell for a second day amid heavy selling in software stocks, driven by fears of AI disruption. In contrast, the Dow Jones closed higher for the day, highlighting a rotation out of tech into other sectors.
In the crypto market, Bitcoin extended its sharp sell-off on Wednesday, falling to near $70,000 level and dropping more than 5% at its lows. The cryptocurrency is now over 40% below its October record high near $126,000, with $70,000 emerging as a key support level to watch.
The decline reflects a broader rotation away from risk assets amid rising uncertainty around future Federal Reserve policy following Kevin Warsh’s nomination as Fed chair, and slower progress on crypto-friendly regulation. Heavy institutional selling and large outflows from spot Bitcoin ETFs have further pressured prices and liquidity. The downturn has also weighed on crypto-related stocks, including bitcoin treasury and mining companies.
EUR/USD slipped to around 1.1780 in early European trading as the euro weakened following softer Eurozone inflation data ahead of the ECB’s policy decision. Inflation fell further below the ECB’s target, reinforcing expectations of future rate cuts.
On the U.S. side, concerns about Federal Reserve independence may limit USD strength. President Donald Trump suggested he would not have nominated Kevin Warsh as Fed chair if he favored rate hikes, adding to uncertainty around future U.S. monetary policy and offering some support to EUR/USD.
In the commodity market, silver prices plunged again on Thursday, falling as much as 16% and wiping out a brief two-day rebound, as extreme volatility continued to dominate the market.
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