China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. stocks fell Thursday for the third consecutive session, with the S&P 500, Dow Jones, and NASDAQ all closing lower as stronger-than-expected economic data tempered hopes for aggressive Federal Reserve rate cuts. At the close, the Dow dropped 173 points, or 0.4%, the S&P 500 fell 0.5%, and the NASDAQ slipped 0.5%, extending a pullback from recent record highs amid concerns over valuations and Fed policy.
Investor sentiment weakened after Fed Chair Jerome Powell warned earlier this week that there is “no risk-free path” as the central bank balances inflation risks with a softening labor market. The remarks came just days after the Fed’s 25-basis-point rate cut, leaving markets uncertain about how many more reductions will follow this year.
Fresh data reinforced the picture of U.S. economic resilience. Weekly jobless claims dropped to 218,000, well below expectations, while the final reading of second-quarter GDP showed growth of 3.8%, up from earlier estimates of 3.3% and 3.0%. The strong growth data and low unemployment filings pushed Treasury yields higher, weighing heavily on technology stocks.
Fed projections last week indicated another half-point in cuts may be on the table before year-end, but several policymakers signaled fewer moves could be likely. Analysts noted that hawkish implications from the data may pressure equities, especially given that expectations of Fed easing had fueled much of the rally. Traders now await Friday’s release of the Fed’s preferred inflation gauge, the PCE price index, for further clarity.
Markets are also grappling with political risk as a potential U.S. government shutdown looms. A Senate rejection of a stopgap spending bill has left federal agencies preparing contingency plans that could trigger mass layoffs if no agreement is reached.
On the corporate front, Nvidia gained nearly 1% as investors bought into recent weakness, while Intel rose on reports it approached Apple for a potential investment. Earnings news was mixed: Stitch Fix and CarMax plunged after weak results, while Accenture beat revenue forecasts and announced an $865 million restructuring to focus on digital and AI demand.
