Asia And Europe Markets Advance, Gold Hits $3,000 - Global Markets Today While US Slept

On Thursday, March 13, U.S. markets ended notably lower, with the S&P 500 entering correction territory as escalating U.S. tariffs overshadowed encouraging inflation data.

Despite cooler-than-expected PPI and CPI readings and steady jobless claims suggesting inflation is easing, and the labor market remains strong, investor sentiment deteriorated. A broad selloff, led by losses in tech megacaps like the “Magnificent 7,” dragged major indexes down. Trade tensions flared as the EU retaliated against U.S. metal tariffs.

In economic data, U.S. producer prices were flat in February, missing expectations of a 0.3% rise after a revised 0.6% gain in January. Jobless claims fell by 2,000 to 220,000, below the forecast of 225,000.

Also Read: Trump Warns Of 200% Tariff On French Champagne And EU Spirits In Retaliation To Europe’s Tariff On US Whiskey

Most S&P 500 sectors fell Thursday, led by losses in consumer discretionary, real estate, and communication services, while utilities ended higher.

The Dow Jones Industrial Average fell 1.30% to close at 40,813.57, the S&P 500 slid 1.39% to 5,521.52, and the Nasdaq Composite declined 1.96% to 17,303.01.

Asia Markets Today

• On Friday, Japan’s Nikkei 225 rose 0.73% to 37,078.50, led by gains in the Power, Rubber and Chemical, Petroleum & Plastic sectors.
• Australia’s S&P/ASX 200 was up 0.52% and closed at 7,789.70.
• India markets closed for the Holi festival holiday.
• China’s Shanghai Composite gained 1.81% to 3,419.56, and the Shanghai Shenzhen CSI 300 rose   2.43% to 4,006.56.
• Hong Kong’s Hang Seng increased 2.12%, ending the session at 23,959.98.
• Chinese stocks rallied on hopes of new economic stimulus, including possible PBOC liquidity measures and policies to boost consumption ahead of Monday’s press conference with top officials.

Eurozone at 05:45 AM ET

• The European STOXX 50 was up 0.60%.
• Germany’s DAX gained 0.55%.
• France’s CAC rose 0.65%.
• U.K.’s FTSE 100 index traded higher by 0.41%

Commodities at 05:45 AM ET

Crude Oil WTI was trading higher by 1.01% at $67.21/bbl, and Brent was up 0.90% at $70.51/bbl.

Oil prices rebounded Friday after prior losses, supported by fading hopes of a quick Ukraine ceasefire and potential cuts in Russian supply.

Natural Gas declined 0.63% to $4.085.

Gold was trading higher by 0.66% at $3,010.96, Silver was up 1.36% to $34.773, and Copper rose 0.04% to $4.9270.

Gold surged to a record high near $3,000 amid trade war fears and rate cut expectations. Strong haven demand, ETF inflows, and Fed policy outlook continue to boost sentiment.

U.S. Futures at 05:45 AM ET

Dow futures were up 0.54%, S&P 500 futures rose 0.76% and Nasdaq 100 futures gained 1.00%.

Forex at 05:45 AM ET

The U.S. dollar index gained 0.08% to 103.92, the USD/JPY rose by 0.076% to 148.93, and the USD/AUD declined by 0.34% to 1.5860.

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