Today's News Update - 7th Aug 2024 Asia On Tuesday, Japanese stocks experienced a significant rebound after the Nikkei 225 and the Topix dropped more than 12% in the previous session. Other Asia-Pacific markets also saw mostly positive movement. The Nikkei 225, which had its largest loss since the 1987 Black Monday crash, along with the Topix, both surged over 9%. Mainland China's CSI 300 ended flat at 3,342.98, while Hong Kong's Hang Seng index showed little change in its final trading hour. In Australia, the S&P/ASX 200 rose by 0.41% to finish at 7,680.6. US Overnight in the U.S., both the Dow and the S&P 500 experienced their most significant declines since September 2022. The Dow Jones Industrial Average plunged by 1,033.99 points, marking a 2.6% drop. Meanwhile, the S&P 500 fell by 3%, reflecting widespread losses across various sectors. The Nasdaq Composite, in particular, saw a substantial drop of 3.43%, bringing it 15% below its previous closing high. These movements indicate a challenging session for major U.S. stock indices. Commodity On Tuesday, U.S. crude oil prices rose above $73 a barrel as the market anticipates potential conflict between Iran and Israel and as Wall Street rebounded following the previous session’s sell-off. West Texas Intermediate had dropped to a six-month low on Monday amid concerns that the U.S. economy might be heading toward a recession. Gold prices eased on Tuesday due to a stronger dollar and rising bond yields. However, expectations of a U.S. rate cut in September and increasing geopolitical tensions in the Middle East helped stabilize gold prices after a sharp decline in the previous session. Spot gold decreased by 0.80% to $2,388.34 per ounce, following a 1.5% drop the previous session due to global market concerns about a potential U.S. recession. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex