Global stocks eased on Thursday after AI bellwether Nvidia’s revenue growth forecast failed to excite investors, while the dollar firmed and bitcoin hit a record high, buoyed by hopes about U.S. President-elect Donald Trump’s policies.
Charu Chanana, chief investment strategist at Saxo, said Nvidia earnings were a clear indication that momentum in AI was only growing, with supplies being the bigger headwind rather than demand.Elsewhere in Asia, bourses in China and Hong Kong were mixed, while tech heavy Taiwan stocks dropped 0.6%. The dollar has been rising since the U.S. election on anticipation that proposed tariffs of the Trump administration will likely be inflationary and keep rates higher for longer.
Two Federal Reserve governors on Wednesday laid out competing visions of where U.S. monetary policy may be heading, with one citing concerns about inflation and another expressing confidence that price pressures will continue to ease. The common currency briefly breached that level on Friday and has moved sideways since. It was last at $1.053175.
The world’s largest cryptocurrency, bitcoin, soared to touch a record of $97,902 and was just a touch under at $97,611.
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