Global Markets:
- Asian Stock Markets : Nikkei down -2.70%, Shanghai Composite down -0.56%, Hang Seng down -1.68% ASX down -1.98%
- Commodities : Gold at $4,016.31 (-1.45%), Silver at $49.580 (-2.26%), Brent Oil at $63.83 (-0.58%), WTI Oil at $59.52 (-0.58%)
- Rates : US 10-year yield at 4.122, UK 10-year yield at 4.5350, Germany 10-year yield at 2.7130
News & Data:
- (CAD) CPI m/m 0.2% to 0.2% expected
- (CAD) Median CPI y/y 2.9% to 3.1% expected
- (CAD) Trimmed CPI y/y 3.0% to 3.0% expected
Markets Update:
Asian markets fell sharply on Tuesday, mirroring the weak cues from Wall Street as concerns over stretched valuations—particularly in technology stocks—and fading expectations of a Fed rate cut next month weighed on sentiment. The US dollar also strengthened across the region. Markets are now looking ahead to a series of delayed US economic releases for clearer signals on the Fed’s policy direction.
CME Group’s FedWatch Tool shows a 55.1 percent chance the Fed will hold rates steady next month and a 44.9 percent likelihood of another quarter-point cut.
In Australia, the S&P/ASX 200 dropped sharply toward the 8,500 level, with broad losses led by mining, energy and tech stocks. Major miners like BHP, Rio Tinto and Fortescue fell notably, while tech names including Block, Zip and WiseTech registered steep declines. Financials also weakened, with the major banks sliding up to 2 percent.
Japanese stocks also extended losses, with the Nikkei 225 tumbling nearly 2 percent amid broad declines in exporters, tech and financials. Market heavyweights like SoftBank and Toyota were among the major drags.
Other Asian markets, including South Korea, Taiwan, Hong Kong and China, were also lower.
On Wall Street, US stocks ended Monday sharply down, with all major averages closing at their lowest levels in a month. European markets also finished broadly weaker. Crude oil prices edged slightly lower amid persistent concerns over long-term supply-demand imbalances.
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