Stocks End Their Third Year of Gains on a Negative Note – Asia Market Wrap

On the last day of 2025, stocks and bonds fell along with gold and silver, capping an otherwise prosperous year on a low note.

The S&P 500 extended a streak of post-Christmas losses, reducing the benchmark’s 2025 rise to almost 16%. The Nasdaq 100 fell 0.8% on Wednesday, marking its fourth day of losses. Nonetheless, both indices have registered double-digit gains for three consecutive years, marking their longest winning streak since 2021.

Gold and silver prices decreased at the end of their finest year since the 1970s. CME Group boosted margin requirements on precious-metal futures for the second time in a week, following a period of increased volatility.

In the crypto arena, Bitcoin suffered a loss for the year after erasing an earlier rally that had sent it to a record in October. The digital currency has settled into a range of roughly $85,000 to $95,000 following a crash in October that has put it on pace for a first annual loss in three years. After kicking off 2025 with a rally that was spurred by optimism about the crypto-friendly policies of the second Trump administration, Bitcoin was hit by the uncertainty surrounding US tariffs.

Copper had its best year since 2009, boosted by short-term supply constraints and predictions that demand for the metal used in electrification will surpass production. Oil ended the year with its worst yearly drop since 2020, as the market faced broad geopolitical threats and steadily expanding supplies around the world.