South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Wall Street ended Friday on a weaker note as risk-off sentiment dominated trading, driven by hotter-than-expected U.S. inflation data, a dramatic sell-off in precious metals, and major political developments surrounding the Federal Reserve. The benchmark S&P 500 fell 0.4% to 6,939.65, the Dow Jones Industrial Average dropped 0.4% to 48,892.47, and the Nasdaq Composite slid 0.9% to 23,461.82, pressured by declines in large-cap technology stocks.
Investor mood darkened after President Donald Trump nominated former Federal Reserve Governor Kevin Warsh as the next Fed chair. While the announcement was widely anticipated, it reignited debate around interest rates and central bank policy. Warsh, who served at the Fed from 2006 to 2011, is viewed as less dovish than markets might have expected, despite aligning recently with Trump’s calls for lower rates. Analysts noted that his history of criticizing ultra-loose monetary policy could reassure investors concerned about the Fed’s independence, helping explain the relatively muted market reaction.
Economic data added to the caution. Core producer price inflation for December surged 0.7% month-over-month and 3.3% year-over-year, both well above expectations. The data reinforced the Federal Reserve’s recent decision to keep interest rates unchanged, underscoring that inflation remains sticky and limiting hopes for near-term rate cuts.
Markets were also rocked by a spectacular reversal in precious metals. After weeks of sharp gains fueled by safe-haven demand, gold, silver, and platinum prices collapsed as investors rushed to lock in profits. Spot gold plunged nearly 10% to around $4,850 an ounce, silver tumbled almost 28% in its worst session on record, and platinum fell more than 18%, marking one of the most dramatic precious metals sell-offs in decades.
Despite Friday’s losses, U.S. stocks still ended January with gains. The S&P 500 rose 1.4% for the month, the Dow gained 1.7%, and the Nasdaq added 0.9%. However, analysts cautioned that February has historically been a weak month for equities, suggesting volatility could persist as investors navigate inflation risks, Fed policy uncertainty, and shifting global dynamics.
