Stock Futures Decline, Silver Rises Alongside Bitcoin – Asia Market Wrap

Global shares were poised for further losses after a three-day drop in US technology sectors slashed risk appetite. Silver and Bitcoin rallied amid tumultuous trading.

Equity-index futures in the US and Europe tumbled as Wall Street gauges fell Thursday, with the Nasdaq 100 experiencing its worst three-day drop since April’s meltdown. The benchmark has lost more than $1 trillion since Fed policymakers signalled last week that they are unlikely to decrease interest rates anytime soon. Futures for the Nasdaq 100 Index declined 0.7%, while those for the S&P 500 dropped 0.4%.

While Asian markets regained some stability following initial losses on Friday, investors remained cautious of the technology sector, with Amazon shares falling 11% during extended trading. The business intends to spend $200 billion on artificial intelligence this year, raising concerns that its massive AI investment would fail to pay off in the long term.

Volatility was evident across assets, with silver climbing 4.1% following a 20% drop Thursday. Bitcoin had a similar swing, climbing more than 3% after falling to over $60,000, less than half of its October peak.

Meanwhile, investors are positioning for a victory for Japanese PM Takaichi’s LDP in this weekend’s election by buying Japanese stocks and selling the yen and government bonds. The Nikkei 225 index in Japan increased 0.5%.