Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
U.S. stocks closed lower on Friday, capping off a losing week, as renewed trade tensions triggered by President Donald Trump’s tariff proposals shook investor confidence. Trump suggested a 50% tariff on European Union goods and warned Apple (NASDAQ:AAPL) of potential 25% tariffs on iPhones not made in the U.S., reigniting fears of a global trade war.
The Dow Jones Industrial Average dropped 256.02 points (0.61%) to 41,603.07, while the S&P 500 declined 0.67% to 5,802.82. The tech-heavy Nasdaq fell 1% to 18,737.21. For the week, the Dow lost 2.47%, the S&P 500 shed 2.61%, and the Nasdaq declined 2.48%.
High-growth tech and consumer discretionary stocks led losses. Apple hit a two-week low, sliding 3%. Major names like Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), and Meta (NASDAQ:META) also dipped over 1%, while Tesla (NASDAQ:TSLA) eased 0.5%. The semiconductor sector slid 1.5%. In contrast, defensive sectors such as utilities, consumer staples, and energy saw gains.
U.S. Treasury yields pulled back from recent highs, with the 10-year note falling 4.4 basis points to 4.509%. The CBOE Volatility Index (VIX), a key gauge of market fear, surged 10% to a two-week high.
Ocean Park Asset Management’s James St. Aubin described the market’s reaction as a return to tariff anxieties that investors hoped were in the past. Treasury Secretary Scott Bessent supported Trump’s stance, calling the EU’s offers unsatisfactory and expressing hope that tariff threats would pressure EU negotiators.
Deckers Outdoor (NYSE:DECK) plunged nearly 20% after a weak sales forecast, citing uncertainty from tariff tensions. Nike (NYSE:NKE) also fell 2.1%. Total trading volume reached 17.67 billion shares, near the 20-day average.
