Thursday's session on international financial markets ends on a very negative note.
Wall Street is seeing significant declines in index prices. The US100 contract is currently down 2.5%, while the US500 is down 1.5% on another wave of declining confidence in the AI euphoria.
Interestingly, at the beginning of the session, it seemed that Nvidia had reassured investors, through the publication of very good quarterly data and increased forecasts for the future, that very large capital expenditures in this industry are paying off, as the company itself showed in its report.
Today, however, another wave of uncertainty was stirred up by FED bankers (Goolsbee and Cook) and Ray Dalio, who announced that, in their opinion, the markets are showing signs of a bubble, particularly in the field of artificial intelligence.
What is more, the same bankers indicated that a pause in December might be the right move by the Fed in view of persistent price and geopolitical pressures.
September data from the US labour market is mixed, which has triggered a clear reaction on the financial markets. On the one hand, there was solid growth in non-farm payrolls (NFP), but this positive signal was accompanied by an increase in the unemployment rate to 4.4%, which surprised some analysts and fuelled concerns about a slowdown in employment growth. Monthly wage growth was lower than forecast, while annual data paint a mixed picture: wage pressure continues but is steadily easing.
NATGAS prices are down 2% today after stocks of this commodity fell almost in line with analysts' expectations.
The British pound and Swiss franc performed best on the FX market today. The situation was different for the AUD and CAD, which saw the largest declines. The EURUSD pair is down nearly 0.05% on an intraday basis.
Despite the stock market slump, precious metals are not proving to be typical safe havens, with GOLD and SILVER losing 0.6% and 1.85% respectively.
We are seeing sharp declines in cryptocurrencies today, with Bitcoin losing nearly 4% and trading at its lowest levels since April this year.
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