News
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Japan, South Korea Stocks Open Sharply Lower; Kospi Slumps 6% Triggering Circuit Breaker; Gold Drops 3% Intraday
TradingKey - As of 9:00 (GMT+8) on Monday, March 23, the Nikkei 225 fell by more than 4%, dropping below the 51,000-point mark, while South Korea's KOSPI Index saw its decline widen to 6%, breaking below 5,500 points.
Oil jumps to highest settlement since July 2022 as more Mideast supply disrupted
US deploys more troops to Middle East, Trump comments on IranIraq declares force majeure on some oilfieldsStrait of Hormuz disruptions keep oil prices high, analysts sayBy Georgina McCartney HOUSTON, March 20 (Reuters) - Oil prices jumped on Friday and settled at their highest in nearly four ...Reuters
Fri, Mar 20
Triple Witching Approaches, US Index Futures Under Pressure Pre-Market, Super Micro Computer Slump Draws Attention
TradingKey - At 9:20 AM ET Friday, U.S. pre-market sentiment was generally cautious. Against the backdrop of the approaching "Triple Witching" day, the massive concentration of derivative expirations combined with geopolitical uncertainty has put risk assets under significant pressure. Data shows that approximately $5.7 trillion in stock options are set to expire, which may intensify short-term market volatility.
Super Micro Computer Co-Founder Arrested for Allegedly Smuggling Nvidia Servers to China, SMCI Plunges Over 22% Post-Market.
TradingKey - On March 20, Eastern Time, reports indicated that Super Micro Computer (SMCI) co-founder Yih-Shyan “Wally” Liaw was arrested by U.S. law enforcement agencies on charges of allegedly circumventing export controls to illegally transship a large volume of high-performance servers and GPUs to China.
TradingKey
Fri, Mar 20
JPMorgan Cuts S&P 500 Target to 7,200: Iran War Risk Seriously Underestimated by Market
TradingKey - JPMorgan recently lowered its year-end target for the S&P 500 from 7,500 to 7,200, citing that the market remains overly optimistic regarding the risks of war in Iran and potential oil price shocks.
TradingKey
Fri, Mar 20
Gold Set for Third Weekly Fall on Hawkish US Fed, Elevated Dollar
Gold prices rose on Friday on technical buying, but were headed for a third consecutive weekly decline, pressured by a firm U.S. dollar and as a hawkish U.S. Federal Reserve dampened hopes for near-term interest rate cuts.Reuters
Fri, Mar 20
Trump Compares Pearl Harbor to Strikes on Iran in Meeting Japan's Leader
President Donald Trump drew a parallel on Thursday between U.S. strikes on Iran and Japan's 1941 attack on Pearl Harbor, as he defended the war he launched against Tehran while meeting Japanese Prime Minister Sanae Takaichi in Washington.Reuters
Fri, Mar 20
Kuwait's Mina Al-Ahmadi Refinery Hit by Drone Attack, Fire Breaks Out
DUBAI, March 20 (Reuters) - Kuwait's state oil firm KPC said its Mina Al-Ahmadi refinery was hit by multiple drone attacks early on Friday, causing a fire in some units, with no initial casualties reported, the state news agency said.Firefighters responded immediately, with several units shut do...Reuters
Fri, Mar 20
Iran conflict could flip China's deflation into 'bad inflation'
Oil price shock may end factory gate deflation in ChinaBut inflation driven by input costs could be worse, analysts sayChina better placed than Europe, rest of Asia to weather crisisBut it relies on exports, needs global economy to do wellBy Kevin Yao and Liangping GaoBEIJING, March 20 (Reuters) - C...Reuters
Fri, Mar 20
China Shares Edge Higher, Reclaim 4,000 as Solar Stocks Rise on Tesla Report
Mainland China shares inched higher on Friday, recouping the psychologically important 4,000-point level, underpinned by gains in photovoltaic stocks following a Reuters' report that Tesla is seeking to purchase solar equipment from Chinese firms.Reuters
Fri, Mar 20
Iran’s Tough Stance Combined With Israel’s Signal to Pause Attacks, Will Oil Prices Rise or Fall?
TradingKey — Middle East tensions are once again rattling market nerves, pushing crude oil prices into a state of high volatility. Following successive statements from Iran and Israel regarding energy infrastructure, supply concerns and geopolitical risks have rapidly returned as the primary tradingTradingKey
Fri, Mar 20
Gold Plunges More Than $300 Again, Will It Continue to Fall?
TradingKey - Driven by the Federal Reserve’s hawkish stance, a strengthening US dollar, and reignited inflation expectations from Middle East tensions, gold prices plummeted for two consecutive trading sessions, with a cumulative decline exceeding $500.TradingKey
Fri, Mar 20
Oil Falls as US and Allies Look to Boost Supply, Unchoke Strait of Hormuz
PERTH, March 20 (Reuters) - Oil prices fell on Friday as leading European nations and Japan offered to join efforts to secure safe passage for ships through the Strait of Hormuz and the U.S. outlined moves to boost oil supply.Reuters
Fri, Mar 20
Gold Tumbles Below $4,650 as Inflation Fears and Liquidity Squeeze Weigh
Gold price (XAU/USD) remains under selling pressure near $4,640 during the early Asian session on Friday. The precious metal extends the decline as soaring crude oil and energy prices, driven by the escalating US-Israeli war with Iran, reignite inflation fears.Fxstreet
Fri, Mar 20
