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Asian stock markets slump on renewed uncertainty over Middle East conflicts
Asian equity markets face selling pressure on Friday as risks over the sustainability of the month-long fragile ceasefire between the United States (US) and Iran have increased, following renewed clashes between both nations around the Strait of Hormuz.Fxstreet
Fri, May 8
Japan intervened in FX market again during May holidays – Reuters
Citing a source familiar with the matter, Reuters reported on Friday that Japan’s officials intervened in the foreign exchange market during holidays in early May, after having conducted Japanese Yen-buying operations on April 30.
Fxstreet
Fri, May 8
US Trade Court rules Trump’s 10% global tariff is illegal — Reuters
A US trade court ruled against US President Donald Trump's latest 10% global tariffs, finding they were not justified under a 1970s trade law, however the court only blocked the levy on two small businesses and the state of Washington, Reuters reported on Thursday.
Fxstreet
Fri, May 8
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US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand
Nasdaq Drops Over 5%, Philadelphia Semiconductor Index Plunges 12% as Chip and AI Infrastructure Stocks Are Sold Off; Micron Falls 17%, Nvidia Drops 9%
US October Nonfarm Payrolls Preview: Can Employment Rebound? US Stocks, Dollar and Gold Face Key Test
Micron Stock Price Forecast: Plunges 25% in a Month to Lose $800 Mark, Faces Over 30% Further Downside
Oil Price Forecast: Brent Falls Below $100 to Two-Month Low as Democratic Win Sparks Truce Hopes, Risks Retesting $80
