Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Asian markets tumbled Monday, with U.S. equity futures pointing sharply lower after President Donald Trump imposed tariffs on Canada, Mexico, and China. Concerns over a trade war and its economic fallout sent the U.S. dollar surging to record highs against the Chinese yuan, Canadian dollar, and Mexican peso.
Japan’s Nikkei fell 2.3%, while Australia’s benchmark dropped more than 2%. Hong Kong markets opened later, and mainland Chinese exchanges remained closed for Lunar New Year. S&P 500 futures declined 1.7%, while Nasdaq futures slumped 2.5%.
Trump imposed a 25% tariff on Canada and Mexico and a 10% levy on China, citing illegal immigration and drug trade concerns. Canada and Mexico announced immediate retaliatory measures, while China vowed to challenge the tariffs at the World Trade Organization. The tariffs, set to take effect Tuesday, could trigger a global trade war, with analysts warning of inflationary pressures and economic slowdowns.
EY’s chief economist Greg Daco projected U.S. growth could shrink by 1.5 percentage points, pushing Canada and Mexico into recession. Barclays estimated a 2.8% earnings hit for S&P 500 companies.
The U.S. dollar climbed 0.7% to 7.2552 yuan offshore, reaching a record 7.3765 earlier. It also gained 2.3% against the Mexican peso and 1.4% versus the Canadian dollar, hitting its highest level since 2003. The euro dropped 2.3% to $1.0125, and the yen lost 0.2% to 155.53 per dollar.
Bitcoin fell 5.8% to a three-week low of $96,191.39. Meanwhile, oil prices rose, with WTI crude up 2.4% to $74.27 per barrel and Brent crude gaining 1% to $76.40.
