Global equities remain under pressure as the technology-led selloff deepens and geopolitical risks re-escalate. The MSCI All Country World Index slipped 0.3%, falling to its lowest level in over a month, while Asian equities dropped to a three-week low after US forces launched fresh strikes on Iranian targets, effectively undermining the April ceasefire.
The ECB is set for its first rate hike since 2023 and is expected to raise rates by a quarter point. Markets will also be watching for revisions to the Eurozone economic outlook, given inflation concerns stemming from Middle East tensions and elevated oil prices.
SpaceX’s $75 billion IPO is expected to be priced today. Investors have been reallocating capital in preparation, potentially creating liquidity pressures that are weighing on broader risk assets.
On the economic calendar today, we have Turkey’s rate decision at 12:00 PM and the ECB’s rate decision at 1:15 PM, followed by US weekly initial jobless claims at 1:30 PM.
• Bitcoin rose 1.4% to $62,579.04
• Ether rose 1.2% to $1,648.15
• Spot gold is trading at $4,088.51/oz
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