Once a fringe curiosity, the deepfake economy has grown to become a $7.5 billion market, with some predictions projecting that it will hit $38.5 billion by 2032. Deepfakes are now everywhere, and the stock market is not the only part of the economy that is vulnerable to their impact. Those responsible for the creation of deepfakes are also targeting individual businesses, sometimes with the goal of extracting money and sometimes simply to cause damage.
Interchange is a web-based interactive installation that explores how people perceive and engage with financial markets. The project reflects on the shifting relationship between individuals and the abstract systems that define modern finance. Active participation reveals a dynamic, unpredictable environment shaped by personal beliefs, collective behavior, news, and global events.
Financial markets globally rallied with sharp increases in share prices, as the Nikkei rose by 3.5%, the FTSE 100 hit a record 9,061, and the Dow Jones rose over 1%. News regarding nearing trade deals between the EU and US spurred this surge, while a significant trade agreement recently made between the US and Japan benefited Japanese automakers, with Toyota's shares surging over 14%.
"The echoes of Truss in 2022 are unmistakable. Back then, it was a reckless mini-budget that shattered market confidence. This time, it's a government lurching from one policy retreat to another, raising serious doubts about fiscal control and political authority."
"The Taiwan dollar has been under strong appreciation pressure due to record trade surpluses, equity inflows, and hedging activity by Taiwan life insurance companies," Khoon Goh, head of Asia research at ANZ, wrote in a note.
Markets reacted positively as President Trump announced a ceasefire between Israel and Iran, resulting in a significant drop in Brent crude oil prices, hitting $69.25 per barrel.
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