Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
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Asian shares fell sharply on Thursday as technology stocks came under renewed pressure, driven by growing investor concerns over heavy artificial intelligence spending and its impact on corporate balance sheets. Market sentiment was also dampened as investors braced for a busy slate of central bank meetings worldwide, expected to highlight widening policy divergence across major economies.
MSCI’s broad Asia-Pacific index excluding Japan declined 0.5%, with South Korean stocks tumbling 1.3% and Hong Kong’s Hang Seng Index slipping 0.5%. Japan’s Nikkei fell 1.2%, reflecting weakness in tech-heavy sectors following a selloff on Wall Street. Despite the earlier drop, U.S. equity futures showed modest gains, with Nasdaq futures up 0.3% and S&P 500 futures rising 0.2%.
The technology sector remained in focus after Nvidia shares dropped 3.8%, reigniting fears over whether massive AI-related capital expenditure can deliver sustainable returns. Oracle shares plunged 5.4% after the company revealed an equity deal linked to a data center project would proceed without a key partner, Blue Owl Capital. Oracle has now lost nearly half its market value since mid-September, when optimism around an OpenAI-related deal briefly boosted the stock.
Geopolitical tensions added to market volatility, particularly in commodities. Oil prices extended gains after U.S. President Donald Trump ordered a “blockade” on sanctioned Venezuelan oil tankers, tightening global supply expectations. U.S. crude rose to $56.91 per barrel, while Brent climbed to $60.62. Precious metals remained elevated, with silver hovering near record highs and gold easing slightly but still trading above $4,300 an ounce.
In currency markets, the British pound remained under pressure after UK inflation fell more than expected to 3.2%, reinforcing expectations of an imminent Bank of England rate cut, now almost fully priced in by markets. The euro held steady ahead of the European Central Bank’s policy decision, where rates are widely expected to remain unchanged.
Investors are also watching U.S. inflation data and comments from Federal Reserve officials, as expectations grow that weakening labor market conditions could open the door to future interest rate cuts, adding another layer of uncertainty to global financial markets.
