Major indices from Wall Street and Europe continued their strong sell-offs amid a further rise in expectations for hikes in the US and the Eurozone
The US500 is down 0.7%, while the Nasdaq is down 1.5% as of 2 hours before the close, although it was definitely worse during the day
The US ISM manufacturing index remained at 52.8 points despite expectations of a decline, confirming hawkish investor expectations
In addition, we saw further declines in US unemployment claims
PMI indices in Europe performed mixed - France back above 50 points, Spain up, slightly below expansion, but worse data in Germany
As expected, Gazprom halted gas deliveries via Nord Stream I. Germany is concerned that deliveries will not resume or stagnation could happen in the autumn and winter months
Strong expectations for hikes, further rise in yields led to dollar strengthening. EURUSD below 0.9950, while USDJPY reaches 140
Strong declines took place in Nvidia shares, after sales prospects worsened in the face of the company's inability to export technology to China
Powerful declines took place today for mining and energy companies due to expectations of a slowdown in Europe and China.
The strong dollar caused a further sell-off in commodities. WTI crude oil clearly below $90, while gold was below $1,700
Daily Summary: Dow Jones hits record highs, while gold and silver rally on hopes for a US–Iran deal
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Market wrap (05.08.2026)