Gold prices hit an all-time high on Monday (October 6), surging above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic uncertainty, and the prospect of further Federal Reserve interest rate cuts. Spot gold rose 1.4% to $3,940.04 an ounce, as of 11:08 GMT, after reaching $3,949.34 earlier in the session. US gold futures for December delivery rose 1.4% to $3,964.50. Washington will begin mass layoffs of federal workers if US President Donald Trump decides negotiations with Democratic lawmakers to end the partial government shutdown...
Hong Kong stocks slid for a third straight day, tracking losses in major Asian markets, amid concerns rising tensions stoked by US trade policies will hurt economic growth and fuel recession risks. The Hang Seng Index tumbled 1 per cent to 23,555.24 at 10.50am local time on Tuesday, adding to a 1.9 per cent loss on Monday and a 0.6 per cent setback on Friday. The Hang Seng Tech Index slipped 0.3 per cent. The CSI 300 Index fell 0.5 per cent and the Shanghai Composite Index of onshore stocks declined 0.4 per cent. Japan's Nikkei 225 fell 1.7 per cent while South Korea's Kospi Index lost 1.3...
The Nikkei 225 Index tumbled 2.5% to below 36,200, while the broader Topix Index dropped 2.9% to 2,620 on Tuesday, reaching their lowest levels in at least five months. The decline followed a sharp selloff on Wall Street overnight, fueled by growing US recession fears. Over the weekend, US President Donald Trump described the economy as being in "a period of transition" when asked about a possible recession, with his tariff policies and government shake-ups adding to market concerns. In Japan, sentiment was further dampened by weaker economic data. Fourth-quarter GDP growth was revised...
Asia-Pacific markets are poised to slide on Tuesday, tracking losses in the U.S. following anxiety over tariff policy and a potential recession in the world's largest economy. Japanese markets led losses in the region, with the benchmark Nikkei 225 falling over 2% shortly after the open, while the broader Topix index fell 1.57%. The country's revised GDP for the fourth quarter came in at 2.2% on an annualized basis, below economists' expectations and the previous estimate of 2.8% growth. South Korea's Kospi started the day 1.78% lower, while the small-cap Kosdaq plunged...
Dow tumbles nearly 900 points, Nasdaq suffers worst day since 2022 as recession fears eruptA three-week market sell-off intensified on Monday, with investors worried that tariff policy uncertainty would tip the economy into a recession, something President Donald Trump did not rule out over the weekend in an interview. The S&P 500 shed 2.7%, touching its lowest level since September at one point and closing at 5,614.56. The tech-heavy Nasdaq Composite saw the sharpest decline of the major averages, falling 4% for its worst session since September 2022 and closing at 17,468.33. The Dow...
Stocks plunged on Monday as the selloff that dragged down Wall Street last week continued, with investors worried about an economic slowdown after President Donald Trump did not rule out a recession with U.S. tariffs. The Dow Jones Industrial Average fell 423 points, or 1%. The S&P 500 fell 2.1%, and the Nasdaq Composite dropped 3.4%. The tech-heavy Nasdaq was weighed down by declines in the "Magnificent Seven." Tesla fell 8%, Alphabet fell 4%, and MetaTrader 4 and AI darling Nvidia fell 5%. Stocks have been under pressure as investors worry about a possible recession because of the...
The Hang Seng plunged 448 points, or 1.9%, to close at 23,784 on Monday, falling for a second session as U.S. futures fell amid concerns over an economic slowdown. Worries have been heightened by fresh levies on major trading partners, rising U.S. unemployment and federal layoffs. Sentiment has been further dampened by deflationary pressures in China, with consumer prices posting their sharpest decline in 13 months in February and producer prices extending their decline to 29 months. On the trade front, tensions have been rising as China plans retaliatory tariffs on Canadian farm...
European markets started the new trading week on a positive note after recent global market uncertainty and volatility. The pan-European Stoxx 600 moved 0.2% higher shortly after the opening bell on Monday (3/10), with most sectors and all major bourses in positive territory. Germany's Dax and France's CAC 40 both rose around 0.4%. Regional markets closed in negative territory on Friday, ending a volatile week marked by indecisive policy on US tariffs, the latest interest rate cut from the European Central Bank, and key US jobs data showing nonfarm payrolls rose by less than expected by...
Japan stocks were higher after the close on Monday, as gains in the Power, Rubber and Chemical, Petroleum & Plastic sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 0.34%. The best performers of the session on the Nikkei 225 were Lasertec Corp (TYO:6920), which rose 9.98% or 1,380.00 points to trade at 15,210.00 at the close. Meanwhile, SMC Corp (TYO:6273) added 6.82% or 3,750.00 points to end at 58,750.00 and Oriental Land Co Ltd (TYO:4661) was up 5.54% or 172.00 points to 3,277.00 in late trade. The worst performers of the session were Mitsubishi Heavy...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....