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Market Review

US:

US stock market ended lower on Tuesday, dragged by selling in technology stocks, with the S&P 500 putting in a fourth straight session of losses.

Asia:

Asian investors battled Wednesday to kickstart a recovery in equities following the latest stagger across world markets that has been caused by worries over an AI-fuelled bubble and uncertainty over US interest rates.

India:

On Tuesday, the Indian stock market ended lower, with the benchmark indices snapping their six-day winning run. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy: U.S. President Trump called for a single federal framework to regulate artificial intelligence, warning that differing state-level rules could impede investment and allow China to gain an edge.

The Donald Trump administration has been secretly working with Russia to draft a plan to end the war in Ukraine, citing U.S. and Russian officials. The U.S. is working on a 28-point plan inspired by Trump’s push for a ceasefire between Israel and Hamas, and will include four main tenets.

Bank of England policymaker Swati Dhingra stated that interest rates should be reduced to their neutral level fairly soon. Dhingra was among four members of the nine-person Monetary Policy Committee who voted to lower interest rates from the current 4.0% this month, while the majority opted to maintain the current rate.

U.S. President Trump and Saudi Arabian Crown Prince Mohammed bin Salman agreed to a flurry of deals on Tuesday, the White House said, including a commitment from Riyadh to increase its investment in the U.S. to $1 trillion.

Commodities:

Oil prices fell on Wednesday as an industry report showing crude and fuel inventories rose last week in the U.S., the world's biggest crude consumer, reinforced mounting concerns that supply is exceeding demand in the market.

Gold prices were steady on Wednesday, as investors awaited minutes from the Federal Reserve's latest policy meeting and U.S. jobs report that could shed more light on the central bank's interest rate trajectory.

Currency:

The yen regained its footing and the U.S. dollar held steady against most of its biggest peers in early trading in Asia on Wednesday, as investors switched into safe havens after a days-long global selloff in stocks.

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