Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
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 
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 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
U.S. stock index futures edged lower on Wednesday evening after Wall Street extended a two-day losing streak, driven by declines in bank stocks and profit-taking across major technology names. Investor sentiment turned cautious as markets digested geopolitical risks, regulatory concerns, and upcoming earnings from key companies, including Taiwan Semiconductor Manufacturing Company (TSMC), a major bellwether for the global chip industry.
By late evening trading, S&P 500 futures slipped 0.1%, Nasdaq 100 futures declined nearly 0.2%, and Dow Jones futures fell around 0.15%. The pullback followed recent record highs in early January, as traders locked in gains amid rising uncertainty.
Technology stocks, which had fueled much of the early-2025 rally, saw renewed selling pressure ahead of TSMC’s fourth-quarter earnings release scheduled for Thursday. As the world’s largest contract chipmaker and a critical supplier to NVIDIA, TSMC’s results are closely watched for signals on global semiconductor demand. TSMC’s U.S.-listed shares fell more than 1%, while NVIDIA also lost ground amid reports of potential Chinese restrictions on domestic sales.
Additional pressure came from reports that China advised local companies to stop using certain U.S. and Israeli cybersecurity software, citing national security concerns. This weighed heavily on tech sentiment, with Broadcom and Oracle posting sharp declines. Oracle slid after facing a lawsuit from bondholders related to losses tied to its artificial intelligence expansion and increased debt issuance. As a result, the Nasdaq Composite dropped 1%, underperforming the S&P 500 and Dow Jones Industrial Average.
Bank stocks were another major drag on the market after President Donald Trump announced plans to impose a strict 10% cap on credit card interest rates. The proposal sparked concerns about profitability across the financial sector, overshadowing otherwise solid earnings from major lenders. Shares of Bank of America and Citigroup fell more than 3% despite beating earnings expectations, while Wells Fargo and JPMorgan also posted notable losses.
Geopolitical tensions further dampened risk appetite, as markets reacted to warnings from Iran over potential U.S. intervention amid ongoing protests. With more bank earnings expected and key tech results imminent, investors remain cautious as Wall Street navigates a volatile start to the year.
