By Financial markets worldwide are under pressure from tech sector turbulence, geopolitical strife, and mixed economic indicators.
Impact On U.S. Market
U.S. stocks faced losses, with the S&P 500 down 1.2% and Nasdaq Composite dropping 2.5%, following heightened competition fears led by Chinese AI startup DeepSeek. Nvidia shares nosedived 15% last week, shedding $600 billion in market value.
Mixed Market Updates
In Asia, Japan’s Nikkei 225 slipped 1%, reflecting rate hike anxieties, while Hong Kong’s Hang Seng gained 0.5%, buoyed by optimism in tech recovery. Europe’s FTSE 100, DAX, and CAC 40 are expected to open lower amid caution ahead of key economic reports.
Forex markets showed resilience, with the U.S. dollar trading at $1.05 against the euro. The Japanese yen strengthened after the Bank of Japan raised rates, indicating confidence in its economy. Gold climbed to $2,755 per ounce as a safe-haven asset, while Bitcoin remained steady at $106,000 amid regulatory uncertainties.
Oil prices fluctuated, with Brent crude trading at $75 per barrel, reflecting concerns over weak Chinese demand and supply chain recovery.