Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Global stock markets slipped on Wednesday while gold retreated sharply from its recent rally, as investors reassessed stretched valuations and booked profits. The pullback followed growing geopolitical uncertainty after the planned summit between U.S. President Donald Trump and Russian President Vladimir Putin was postponed, while doubts lingered over a potential meeting between Trump and Chinese President Xi Jinping. Despite recent conciliatory tones from Washington and Beijing, Trump added to the ambiguity, saying the meeting “maybe won’t happen.”
Gold prices tumbled more than 5% on Tuesday, marking one of the sharpest declines this year, before sliding another 0.6% to $4,098.89 per ounce. The metal had surged over 50% year-to-date, driven by safe-haven demand amid global uncertainty and expectations of U.S. rate cuts. Analysts, including Tony Sycamore from IG, attributed the sell-off to excessive speculative positioning and “FOMO-driven” buying, noting parallels with stretched valuations in tech-heavy markets such as the Nasdaq.
The MSCI Asia-Pacific ex-Japan index dipped 0.24%, while Nasdaq futures fell 0.2% and S&P 500 futures eased 0.07%. Netflix shares plunged nearly 6% after missing quarterly earnings, while General Motors jumped 15% following an upbeat profit outlook. In Europe, futures also weakened, with the EUROSTOXX 50, FTSE, and DAX down between 0.15% and 0.5%.
Japan’s Nikkei dropped 0.9% after two days of gains fueled by optimism over fiscal stimulus under new Prime Minister Sanae Takaichi. Analysts see “Sanaenomics” as supportive for equities through pro-growth and reform-focused policies. Meanwhile, China’s CSI300 fell 0.2% and Hong Kong’s Hang Seng slipped 0.42%.
In currency markets, the yen weakened 0.8% following Takaichi’s win, while the dollar held firm. The Bank of Japan is expected to keep rates unchanged next week, and the U.S. Federal Reserve is widely anticipated to cut rates by 25 basis points. Oil prices edged higher, with Brent at $61.51 and WTI at $57.46 per barrel, as markets awaited further central bank cues amid a prolonged U.S. government shutdown.
