
US stocks declined for the second consecutive session. On Wednesday, equities fell led by sharp declines in technology and banking stocks, with the Nasdaq down 1% and the S&P 500 off 0.5%. Dow Jones closed 49,088 down 0.17% for the day.
Tech stocks weakened amid trade and regulatory concerns, including new U.S. tariffs on certain semiconductors and reports that China restricted imports of Nvidia’s H200 chips.
Geopolitical tensions continued to pressure sentiment, with uncertainty surrounding U.S.-Iran relations supporting oil prices, ongoing disputes over Greenland, and renewed concerns over Federal Reserve independence following attacks on Fed Chair Jerome Powell.
Investors are now focused on upcoming earnings from major banks and asset managers, along with weekly U.S. jobless claims data.
Asia-Pacific markets were mixed on Thursday. Japan’s Nikkei fell, though the broader Topix posted modest gains, and Australia’s market advanced. The Japanese yen strengthened marginally as markets stayed alert to possible official intervention following recent weakness.
EUR/USD was down and trading near 1.1635 in Asian hours, as the US dollar strengthened on robust US economic data. Stronger-than-expected Retail Sales and a hot Producer Price Index, combined with last week’s lower Unemployment Rate, reinforced expectations that the Federal Reserve will keep interest rates on hold in the coming months.
Precious metals retreated in early trading today after reaching new record highs on Wednesday. Gold is down 0.5% from its all-time high of $4,643. Silver dropped nearly 4% from its record high of $93.69
And in the crypto market, Bitcoin rose above $95,500, Ethereum held above $3,300, and the total crypto market cap approached $3.25 trillion.
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