ASIA/PACIFIC
Asia-Pacific markets traded lower on Tuesday, following Wall Street’s overnight decline as tariff threats by U.S. President Donald Trump triggered a risk-off sentiment. Investors also reacted to the Bank of Korea’s rate decision, which cut interest rates from 3% to 2.75% in an effort to stimulate a slowing economy. Meanwhile, the Australian share market resumed its downtrend, closing firmly in the red, with miners and banks dragging the index lower. This marked the sixth day of losses in the past seven sessions
EUROPE
European stocks delivered a mixed performance on Tuesday, as investors digested corporate earnings updates and assessed Germany’s economic struggles. Germany’s GDP shrank by 0.2% in Q4 2024, with Deutsche Bundesbank President Joachim Nagel warning that no significant recovery is expected in the near term. The report weighed on sentiment, reinforcing concerns over Europe’s economic resilience.
AMERICAS
U.S. stocks fell broadly on Tuesday as traders weighed concerns around economic growth and global trade. Significant weakness among technology stocks weighed on Wall Street, as reflected the notable slump by the tech-heavy Nasdaq. The Conference Board said its consumer confidence index plunged to 98.3 in February from an upwardly revised 105.3 in January.
AFRICA
The Egyptian Exchange (EGX) and the Financial Regulatory Authority (FRA) are currently considering regulatory revisions that could eliminate or modify the lock-up period for major shareholders following an initial public offering (IPO). The move is particularly aimed at government-owned companies, potentially easing restrictions on post-IPO share sales.
MIDDLE EAST
Gulf stock markets closed mixed on Tuesday, as corporate earnings disappointed investors amid concerns over U.S. investment restrictions on China. Meanwhile, Abu Dhabi’s Etihad Airways is reportedly preparing to launch a $1 billion IPO this week, according to two sources cited by Reuters. If confirmed, this would mark the first IPO of a major Gulf airline in nearly two decades.
COMMODITIES
GOLD
Spot gold declined 1.5% to $2,906.50 per ounce, hitting its lowest level since February 17.
U.S. gold futures fell 1.4% to $2,920.40, as investors locked in profits after reaching a record high in the previous session.
OIL
Brent crude futures fell $1.43 (-1.9%) to $73.37 per barrel. U.S. West Texas Intermediate (WTI) crude dropped $1.42 (-2%) to $69.23 per barrel.
