"We are seeing a cautious tone in Europe this morning, following on from the jitters seen throughout US and Asia. The concerns that have revolved around AI disruption in the software segment have spread into any other part of the US market that could lose business to new low-cost technological advances. Yesterday saw the financial services stocks particularly feel the pinch, although ultimately the declines spread throughout the vast majority of the S&P 500."
"Yesterday's announcement that Russia has proposed a set of conditions for a economic deal that could bring them much closer to the US shocked many in the markets. However, the most notable part related to the potential move back towards the use of the US dollar, pushing back against the de-dollarisation narrative built by their fellow BRICS nations. This understandably sparked a rise in the US dollar, with precious metals hit hard as a result."
European markets opened with a cautious tone after jitters in US and Asian markets. AI-driven disruption fears in software broadened to other US market segments that might lose business to low-cost technologies. Financial services stocks led declines that ultimately affected much of the S&P 500. The UK pledged £540m of weapons to Ukraine under a NATO funding scheme, lifting defence names such as BAE Systems, Rolls-Royce and Rheinmetall. European leaders gather at the Munich Security Conference while Zelensky rejects a "bad deal" referendum. Russia proposed conditions for an economic deal including a potential return to the US dollar, prompting a dollar rally and pressure on precious metals.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]