Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Global equities ended the week under pressure as hawkish comments from Federal Reserve officials dampened hopes for another interest rate cut in December. MSCI’s global stock index slipped, while Wall Street posted a muted performance, weighed down by rising U.S. Treasury yields and renewed inflation concerns.
The S&P 500 rebounded from early losses thanks to bargain hunters, even as major markets from Tokyo to Paris closed sharply lower. Investors were also rattled by uncertainty surrounding Britain’s upcoming budget, adding to the strain on UK markets.
Several Fed policymakers struck a cautious tone, citing persistent inflation and a stabilizing labor market after two rate cuts earlier this year. Kansas City Fed President Jeffrey Schmid warned that inflation remains “too hot,” suggesting he could dissent if the Fed moves forward with a December cut. Dallas Fed President Lorie Logan also signaled opposition, echoing her stance from October.
Following the record-long U.S. government shutdown—now 43 days without official data—traders adjusted expectations, pricing in a roughly 46% chance of a December rate cut, down from nearly 67% last week, according to the CME FedWatch tool.
Despite market jitters, the tech-heavy Nasdaq managed to close slightly higher, supported by renewed interest in high-performing tech stocks. Nvidia gained 1.8%, while the S&P 600 tech index inched up 0.3%. Investors are bracing for a busy week ahead featuring earnings from major retailers and Nvidia, key indicators of consumer strength and AI demand.
The Dow fell 0.65% on the day, while the S&P 500 dipped 0.05% and the Nasdaq rose 0.13%. Global markets mirrored the cautious mood, with European and Asian indexes retreating.
In commodities, oil prices jumped over 2% after a Ukrainian drone attack disrupted exports at Russia’s Novorossiisk port. Meanwhile, gold prices fell sharply as Treasury yields climbed, with spot gold dropping over 2%.
Crypto markets also retreated, with bitcoin down nearly 4% and ethereum slightly lower.
