Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Oil prices hovered near two-week highs in early Wednesday trading, supported by a U.S.-China tariff truce and a weakening dollar. Brent crude slipped 10 cents to $66.53 per barrel, while U.S. West Texas Intermediate (WTI) dipped 7 cents to $63.60. Both benchmarks had surged over 2.5% the previous day.
The U.S. and China agreed to ease tariffs for 90 days, with the U.S. reducing duties to 30% from 145% and China cutting import taxes to 10% from 125%. This trade pause helped ease market concerns about global demand, pushing oil prices up over $1.60 on Tuesday.
Additionally, the dollar index dropped 0.67% following softer-than-expected U.S. inflation data. A weaker dollar typically boosts oil demand by making it cheaper for foreign buyers.
Rystad Energy analysts noted the tariff rollback has reduced "demand-side pessimism" but warned of potential lingering impacts. U.S. inventory data added further support. According to the American Petroleum Institute, gasoline inventories fell by 1.4 million barrels and distillate stocks dropped 3.7 million barrels, signaling strong fuel consumption. However, crude inventories rose by 4.3 million barrels, contrary to analysts’ expectations of a 1.1 million-barrel draw.
Markets await official figures from the U.S. Energy Information Administration due later today. Meanwhile, President Donald Trump’s Gulf visit is in focus. He announced the lifting of sanctions on Syria and a $600 billion Saudi investment in the U.S. Rystad’s Mukesh Sahdev said Trump aims to stabilize summer oil prices, possibly by expanding U.S. Middle East crude reserves.
Geopolitical risks also persist. The U.S. imposed new sanctions on 20 firms linked to Iran’s oil exports to China amid nuclear talks, raising concerns over future supply disruptions.
