ASIA/PACIFIC
Asian markets traded mixed on Wednesday amid rising Middle East tensions and investor caution ahead of the Federal Reserve’s economic projections on growth and inflation. U.S. President Donald Trump’s aggressive tariff stance also added to market uncertainty. Japan’s Nikkei 225 fell 0.25% as the Bank of Japan held interest rates at 0.5%, in line with expectations. China’s Shanghai Composite Index ended marginally lower, while Hong Kong’s Hang Seng Index edged up 0.1%. Australia’s S&P/ASX 200 Index fell 0.4%, reversing a three-day recovery streak.
EUROPE
European stocks closed mixed as investors digested Germany’s fiscal policy changes and awaited key monetary policy updates. The pan-European Stoxx 600 added 0.19%. Germany’s DAX snapped a three-day winning streak, falling 0.4%. France’s CAC 40 dropped 0.70%, while the UK’s FTSE 100 finished flat.
On the banking front, ECB Executive Board Member Frank Elderson reaffirmed the resilience of the European banking system, while Deutsche Bank announced plans to cut 2,000 jobs and reduce branches in 2025.
AMERICAS
U.S. stocks climbed Wednesday after the Federal Reserve said the economy still looks healthy enough to keep interest rates where they are. The S&P 500 increased by 1.1%, the Dow Jones Industrial Average rose 0.9% while the Nasdaq Composite gained 1.4%.
AFRICA
Egypt’s blue-chip index fell 0.8%. Meanwhile, Egypt and India agreed to boost bilateral trade to $12 billion over the next five years, according to Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and Indian Minister of Industry and Supply Piyush Goyal.
MIDDLE EAST
Most Gulf stock markets closed lower amid escalating geopolitical tensions following Israeli airstrikes on Gaza that killed over 400 people, ending nearly two months of relative calm. Saudi Arabia fell 0.7%, Abu Dhabi was off 0.3%, Dubai lost 0.6%, Qatar was down 0.7%, Bahrain eased 0.3%, Oman and Kuwait bucked the trend gaining 0.6% and 0.3% respectively. Meanwhile, Fitch Ratings reaffirmed Qatar’s AA credit rating with a stable outlook, citing strong public finances supported by rising liquefied natural gas (LNG) production.
COMMODITIES
GOLD
Spot gold remained unchanged at $3,034.12 per ounce, while U.S. gold futures inched up 0.1% to $3,042.90 as investors awaited the Federal Reserve’s decision.
OIL
Brent crude rose 0.6% to $70.98 per barrel (by 1:35 p.m. ET). U.S. WTI crude gained 0.61% to $67.31 per barrel, supported by stronger U.S. fuel demand.
