TechFlow news, November 14 — Hawkish signals from Federal Reserve officials extinguished market hopes for a U.S. rate cut in December. Combined with an ongoing messy data calendar and growing concerns over an artificial intelligence bubble, global stock markets and precious metals took a heavy hit on Friday.
Blue-chip markets from Tokyo to Paris and London all saw sharp declines, with fresh worries over the UK's upcoming budget announcement adding to British market pain. U.S. equity futures pointed to a bleak Wall Street open following steep losses on Thursday.
"Our expectation for a December rate cut is back to even odds, and this, combined with concerns over an AI bubble, has unsettled market sentiment, which has turned increasingly volatile this month," said Jeremy Stretch, head of foreign exchange strategy at CIBC Markets.
Meanwhile, the White House dashed market hopes for a quicker clarification of the U.S. economic picture, stating that October’s U.S. unemployment data may never be released—reinforcing views that the Fed could pause action until it receives clearer information. (Jinshi)
