Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
The S&P 500 fell sharply Monday as renewed trade war fears rattled markets after President Donald Trump confirmed tariffs on Mexico and Canada will take effect Tuesday. He also signed an order to impose an additional 10% tariff on Chinese imports, bringing the total levy to 20%.
At market close, the Dow Jones Industrial Average dropped 648 points (1.5%), the S&P 500 declined 2%, and the Nasdaq Composite plunged 2.6%. The latest tariffs come as negotiations with Mexico and Canada failed to yield a deal, increasing concerns over economic growth.
Manufacturing data further fueled worries, with the ISM Manufacturing PMI rising to 50.3 in February, below expectations of 50.6. While this marked a second consecutive month of expansion after 26 months of contraction, demand weakened, and companies continued cutting staff. The Atlanta Fed’s GDPNow model now projects a 2.8% contraction in the U.S. economy for Q1, worsening from last week’s 1.5% decline estimate.
Tech stocks took a hit, with NVIDIA (NASDAQ: NVDA) tumbling over 8% after reports that Chinese buyers are bypassing U.S. export bans to access its Blackwell chips. Intel (NASDAQ: INTC) lost 4% despite earlier gains following reports that it is running manufacturing tests with Nvidia and Broadcom (NASDAQ: AVGO).
Bitcoin dropped over 8%, reversing earlier gains despite optimism over Trump’s proposed U.S. Crypto Strategic Reserve, which he said would include Bitcoin, Ether, XRP, Solana, and Cardano.
In M&A news, Capri Holdings (NYSE: CPRI) is reportedly nearing a deal to sell Versace to Prada for approximately $1.6 billion.
Markets remain volatile as investors assess the impact of tariffs and economic uncertainty.
