The World in Minutes: Key Market Updates in the Last 24 Hours

A sense of caution prevailed in global markets during the second session of the week, as investors focused on political turmoil in the U.S. and France, along with assessing the monetary policy outlook from the Federal Reserve.
U.S. markets declined at the close of trading on Tuesday due to the ongoing federal government shutdown and pressures in the tech sector, following reports of reduced profit margins for Oracle in cloud computing and Nvidia chip rentals, which heightened concerns about the sustainability of corporate spending on artificial intelligence.
In Europe, stocks fell under the weight of the French Prime Minister’s resignation, leading to a continued decline of the euro against the dollar. Meanwhile, in Asia, the Tokyo Stock Exchange stabilized due to profit-taking after the Nikkei index reached a record level due to a weak yen.
The Japanese currency fell against the dollar to its lowest level since February and dropped against the euro to historic lows, driven by expectations that the incoming government would adopt expansionary economic policies. This, combined with strong demand in one of the auctions, contributed to a decrease in sovereign bond yields.
In the energy markets, oil prices stabilized amid assessments of supply and demand outlooks. Traders were optimistic about OPEC+ agreeing to a smaller-than-expected increase in the November production ceiling, while the U.S. Energy Information Administration predicted that domestic crude production would reach a record level in 2025.
Research firm Ember reported that global electricity production from renewable sources surpassed coal for the first time in the first half of the year, while the International Energy Agency lowered its growth forecasts for renewable energy generation capacity by the end of the current decade.
Regarding China, the World Bank raised its growth estimates for 2025 despite trade tensions, citing positive effects from government support programs, as Beijing announced an increase in foreign exchange reserves.
In terms of trade, the World Trade Organization raised its forecasts for goods trade growth this year due to strong demand for artificial intelligence products. The Canadian Prime Minister also visited Washington to discuss tariffs with U.S. President Donald Trump, who indicated progress in bilateral talks.
This visit coincided with the release of data showing Canada recorded its second-highest trade deficit ever, with a decline in exports to the U.S. and a drop in total gold exports.
Following Trump’s protectionist policies, the European Union imposed a 50% tariff on steel imports exceeding an annual limit that will be reduced by 45% to 18.35 million tons, aimed at protecting the struggling sector. The decision still awaits approval from the European Parliament and ratification by member states.
As for the largest economy in the world, data from the Federal Reserve showed consumer credit growth in September at its slowest pace in six months, amid household caution regarding the labor market and increasing fears of job losses.
Concerning gold, its prices continued to rise, reaching a record closing of 43 in 2025, driven by the implications of the U.S. government shutdown, a weak dollar, expectations of continued easing in borrowing costs from the Fed, and strong central bank purchases.
The People’s Bank of China continued to buy gold for the eleventh consecutive month, while the World Gold Council reported that gold exchange-traded funds saw their largest monthly inflows in September, ending the third quarter with the strongest quarterly performance on record.