OPEC+ Expected to Hold October Oil Output Steady 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Yen Rebounds as BOJ Rate Hike Bets Rise 
China Expands Influence in Global Gold Market 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
UK House Prices Fall for First Time Since 2023 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
South Korea GDP Surges on Chip and AI Boom 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Gold Prices Rise as Yen Rally Weakens Dollar 
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Global financial markets extended their losses for a third straight session on Friday as a deepening Wall Street selloff rattled investor confidence across equities, cryptocurrencies, and precious metals. Rising concerns over artificial intelligence profitability, labor market weakness, and aggressive unwinding of crowded trades have fueled sharp volatility worldwide.
Asian markets led the downturn, with MSCI’s Asia-Pacific index excluding Japan falling 1% for a second consecutive day. South Korea’s Kospi plunged 5%, triggering a temporary trading halt shortly after the open. U.S. equity futures pointed lower, with S&P 500 e-mini futures down 0.2% and Nasdaq futures sliding 0.4%, signaling continued pressure on technology stocks. The S&P 500 has now turned negative for the year as fears mount over slowing economic growth and potential job losses.
Investor anxiety intensified following data showing U.S. employer layoffs surged in January to the highest level for that month in 17 years, according to Challenger, Gray & Christmas. At the same time, concerns that new AI models could erode software company margins sparked a sharp selloff in the S&P 500 software and services index, which dropped 4.6% and has lost roughly $1 trillion in market value since late January in what traders have dubbed “software-mageddon.”
Commodities and digital assets also experienced extreme swings. Gold edged down 0.1% to $4,764.43, while silver saw a dramatic intraday plunge of up to 10% before recovering to trade 1.4% lower. Cryptocurrency markets rebounded after a $2 trillion wipeout, with bitcoin rising 3.7% to $65,446 and ether gaining 4.4%, reversing earlier steep losses.
In fixed income and currency markets, expectations of potential Federal Reserve rate cuts grew, with futures pricing a higher probability of easing at the March meeting. The U.S. dollar index remained flat, Treasury yields eased, and the yen strengthened ahead of Japan’s upcoming election. Oil prices also slipped, with Brent crude down 0.4%, reflecting broader risk-off sentiment across global markets.
