Middle East War Rattles Global Markets as Oil Tops $100 and Dollar Surges 
U.S. Stock Futures Steady as Iran Reviews U.S. Ceasefire Proposal 
Australia-EU Free Trade Deal Signed After Years of Negotiations 
Asian Markets Rally as Oil Prices Tumble and Middle East Peace Hopes Emerge 
WTO Reform Talks Begin in Cameroon Amid Global Trade Tensions 
Oil Prices Rebound as Iran Denies U.S. Talks, Middle East Tensions Persist 
Bank of Japan Eyes April Rate Hike Despite Inflation Dip, ING Says 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
UK Consumer Confidence Weakens Amid Middle East Conflict and Rising Living Costs 
Iran-Israel Missile Strikes Continue Amid Mixed Signals on U.S.-Iran Diplomacy 
Gold Prices Surge on U.S.-Iran Ceasefire Reports 
Asian Currencies Stay Muted as Dollar Holds Firm Amid Iran Uncertainty 
Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle Markets 
Oil Prices Plunge Over 6% as Middle East Ceasefire Hopes Ease Supply Fears 
Asian Currencies Weaken as Dollar Rebounds Amid Middle East Uncertainty and Japan Inflation Data 
Global stock markets slipped on Wednesday while gold retreated sharply from its recent rally, as investors reassessed stretched valuations and booked profits. The pullback followed growing geopolitical uncertainty after the planned summit between U.S. President Donald Trump and Russian President Vladimir Putin was postponed, while doubts lingered over a potential meeting between Trump and Chinese President Xi Jinping. Despite recent conciliatory tones from Washington and Beijing, Trump added to the ambiguity, saying the meeting “maybe won’t happen.”
Gold prices tumbled more than 5% on Tuesday, marking one of the sharpest declines this year, before sliding another 0.6% to $4,098.89 per ounce. The metal had surged over 50% year-to-date, driven by safe-haven demand amid global uncertainty and expectations of U.S. rate cuts. Analysts, including Tony Sycamore from IG, attributed the sell-off to excessive speculative positioning and “FOMO-driven” buying, noting parallels with stretched valuations in tech-heavy markets such as the Nasdaq.
The MSCI Asia-Pacific ex-Japan index dipped 0.24%, while Nasdaq futures fell 0.2% and S&P 500 futures eased 0.07%. Netflix shares plunged nearly 6% after missing quarterly earnings, while General Motors jumped 15% following an upbeat profit outlook. In Europe, futures also weakened, with the EUROSTOXX 50, FTSE, and DAX down between 0.15% and 0.5%.
Japan’s Nikkei dropped 0.9% after two days of gains fueled by optimism over fiscal stimulus under new Prime Minister Sanae Takaichi. Analysts see “Sanaenomics” as supportive for equities through pro-growth and reform-focused policies. Meanwhile, China’s CSI300 fell 0.2% and Hong Kong’s Hang Seng slipped 0.42%.
In currency markets, the yen weakened 0.8% following Takaichi’s win, while the dollar held firm. The Bank of Japan is expected to keep rates unchanged next week, and the U.S. Federal Reserve is widely anticipated to cut rates by 25 basis points. Oil prices edged higher, with Brent at $61.51 and WTI at $57.46 per barrel, as markets awaited further central bank cues amid a prolonged U.S. government shutdown.
