Market Maelstrom: Stocks, Metals, and Cryptos Quake Amid Global Selloff

Global markets endured a turbulent session as the selloff on Wall Street extended into a third consecutive day, impacting stocks, precious metals, and cryptocurrencies. Market volatility intensified, with fears regarding AI's influence on software firms' profits adding to the decline.

MSCI's broad Asia-Pacific index, excluding Japan, recorded substantial losses, largely driven by the 5% dive in South Korea's Kospi. Meanwhile, U.S. markets also suffered, with the S&P 500 and Nasdaq futures witnessing declines amid heightened concerns over the labor market.

In addition to equities, precious metals and cryptocurrencies faced notable volatility. Bitcoin rebounded following a steep decline, and Ether followed suit, while precious metals like gold and silver attempted a modest recovery from earlier losses. The broader market now anticipates potential policy easing from the Federal Reserve.