In the stock market, Asian indices closed lower after Broadcom’s disappointing outlook for sales of AI chips. European markets were mixed, with the Ibex 35 among the best performers. US equities declined, led by Nasdaq’s sharp fall, as higher rate expectations weighed on tech companies, adding to negative momentum.
In FX markets, the dollar strengthened, particularly against the euro, as the ECB appears to have limited scope to hike beyond current pricing. Bitcoin fell sharply alongside the correction in tech stocks. In commodities, crude prices declined after Trump suggested that Iran truce talks were at an advanced stage, despite Iranian officials signalling a stalemate.
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