Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian markets tumbled on Wednesday, extending Wall Street’s overnight losses as investors grew increasingly cautious about overstretched stock valuations. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.8%, led by a steep 4.1% decline in South Korean equities. U.S. e-mini futures also slipped 0.4% following a 1.2% fall in the S&P 500.
Chris Weston, head of research at Pepperstone Group in Melbourne, described the market mood as “a sea of red across broad markets,” noting the absence of strong buying catalysts until Nvidia’s earnings report on November 19.
The recent retreat from record highs reflects growing fears that global equity markets may have risen too far, too fast. Caution has intensified after top Wall Street executives, including the CEOs of Morgan Stanley and Goldman Sachs, questioned whether the rally’s lofty valuations are sustainable. JPMorgan Chase CEO Jamie Dimon previously warned of the potential for a significant market correction within the next two years.
Investor enthusiasm around generative AI has fueled massive gains this year, drawing comparisons to the late-1990s dot-com bubble. Japan’s Nikkei index plunged 2.5%, with tech giant SoftBank Group tumbling 10% amid the broader selloff.
In currency markets, the U.S. dollar fell 0.2% against the yen to 153.41 following the release of minutes from the Bank of Japan’s September policy meeting. The dollar index briefly touched a five-month high of 100.25. Benchmark 10-year U.S. Treasury yields edged lower to 4.0697%, while the euro traded steady at $1.1484 after hitting a three-month low.
In commodities, gold inched up 0.1% to $3,936.48 per ounce after three sessions of losses, and Brent crude remained stable at $64.44 per barrel. Bitcoin briefly dipped below $100,000 before rebounding to $100,499.70.
