Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Australian Household Spending Dips in December as RBA Tightens Policy 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Oil prices dropped to their lowest levels in over four years on Wednesday, driven by mounting concerns over global demand due to a deepening U.S.-China trade war and increasing crude supply. Brent crude futures fell $2.13, or 3.39%, to $60.69 a barrel, while U.S. West Texas Intermediate (WTI) slid $2.36, or 3.96%, to $57.22. Brent hit its lowest since March 2021 and WTI since February 2021.
The sharp decline follows five consecutive sessions of losses after U.S. President Donald Trump imposed sweeping tariffs on Chinese imports. The U.S. will now enforce a 104% tariff on Chinese goods starting Wednesday, adding 50% after Beijing failed to remove its 34% retaliatory tariffs. In response, China condemned the move as "blackmail," further straining hopes for a trade resolution.
Experts warn that the intensifying trade conflict between the world’s two largest economies could trigger a global economic slowdown and weaken fuel demand. Ye Lin, VP of oil markets at Rystad Energy, noted that China’s oil demand growth, estimated between 50,000 and 100,000 barrels per day, is now under threat. However, potential domestic stimulus measures could cushion the impact.
Adding to the bearish outlook, OPEC+ announced a production increase of 411,000 barrels per day starting in May, which analysts believe could tip the oil market into surplus. As a result, Goldman Sachs revised its oil price forecast, predicting Brent at $62 and WTI at $58 by the end of 2025, and further declines to $55 and $51 by 2026.
Meanwhile, API data showed a surprise 1.1 million-barrel drop in U.S. crude inventories, offering a glimmer of hope for demand. Official EIA data is expected later Wednesday.
