Trump, Xi Focus on Trade and AI at White House Summit 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Russian Envoy Dmitriev Heads to US for Ukraine Talks 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Oil Prices Surge as U.S.-Iran Diplomacy Hopes Fade 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
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Global financial markets extended their losses for a third straight session on Friday as a deepening Wall Street selloff rattled investor confidence across equities, cryptocurrencies, and precious metals. Rising concerns over artificial intelligence profitability, labor market weakness, and aggressive unwinding of crowded trades have fueled sharp volatility worldwide.
Asian markets led the downturn, with MSCI’s Asia-Pacific index excluding Japan falling 1% for a second consecutive day. South Korea’s Kospi plunged 5%, triggering a temporary trading halt shortly after the open. U.S. equity futures pointed lower, with S&P 500 e-mini futures down 0.2% and Nasdaq futures sliding 0.4%, signaling continued pressure on technology stocks. The S&P 500 has now turned negative for the year as fears mount over slowing economic growth and potential job losses.
Investor anxiety intensified following data showing U.S. employer layoffs surged in January to the highest level for that month in 17 years, according to Challenger, Gray & Christmas. At the same time, concerns that new AI models could erode software company margins sparked a sharp selloff in the S&P 500 software and services index, which dropped 4.6% and has lost roughly $1 trillion in market value since late January in what traders have dubbed “software-mageddon.”
Commodities and digital assets also experienced extreme swings. Gold edged down 0.1% to $4,764.43, while silver saw a dramatic intraday plunge of up to 10% before recovering to trade 1.4% lower. Cryptocurrency markets rebounded after a $2 trillion wipeout, with bitcoin rising 3.7% to $65,446 and ether gaining 4.4%, reversing earlier steep losses.
In fixed income and currency markets, expectations of potential Federal Reserve rate cuts grew, with futures pricing a higher probability of easing at the March meeting. The U.S. dollar index remained flat, Treasury yields eased, and the yen strengthened ahead of Japan’s upcoming election. Oil prices also slipped, with Brent crude down 0.4%, reflecting broader risk-off sentiment across global markets.
