- Wall Street fell as Dell’s 9% drop and Nvidia’s decline weighed on the S&P 500 and Nasdaq.
- Trump’s tariff push weighed on relations with Japan and India, while China’s envoy accused Washington of acting like a bully.
- U.S. inflation data reinforced bets on a September Fed rate cut, lifting gold and silver while Brent crude slid.
- Bitcoin steadied above 109K, Ethereum gained nearly 2%, and Solana advanced as ETF flows slowed.
Geopolitics & Market Sentiment
On September 1, markets recorded broad declines as losses in technology heavyweights dragged Wall Street lower and renewed trade frictions between Washington and Tokyo added to investor caution. Additionally, Inflation data showed that tariffs are affecting prices, reinforcing expectations of a Federal Reserve interest rate cut later this month.
On the diplomatic front, U.S.–Japan trade talks hit an obstacle after Tokyo rejected President Donald Trump’s request to increase purchases of American rice. Furthermore, Japan’s chief negotiator cancelled a planned U.S. trip, underscoring tensions weeks after both sides agreed to cut import tariffs.
India also came under pressure as Trump raised tariffs on Indian goods and accused Delhi of funding Moscow’s war through discounted oil purchases.
Meanwhile, China’s envoy in Delhi denounced Washington’s steep tariffs as bullying, while Prime Minister Narendra Modi prepares to meet Chinese President Xi Jinping in Beijing in what analysts view as a cautious improvement in relations frayed since the 2020 border clashes.
Separately, U.S. Trade Representative Jamieson Greer said Washington continues to pursue trade deals despite a court ruling that most of Trump’s tariffs are illegal.
On the economic front, U.S. data showed a 0.2% rise in the Personal Consumption Expenditures Price Index for July, bringing the annual rate to 2.6%. These figures matched expectations and reinforced market confidence that the Federal Reserve will cut interest rates at its September 16–17 meeting.
The dollar extended its monthly decline, down about 2% in August, while Treasury yields held steady. Meanwhile, gold advanced, supported by expectations of Fed easing, as Oil prices weakened, with Brent sliding nearly 4%.
In Crypto, Bitcoin traded around $109,000, going up modestly on the day, while Ethereum gained nearly 2% and Solana advanced over 1%, as Bitcoin’s market dominance slipped to just under 58%.
Price movements
Global Indices
- S&P 500 Index (SPX): 6,460.25 (–0.64%)
- Dow Jones Industrial Average (DJI): 45,544.88 (–0.20%)
- Nasdaq Composite (IXIC): 21,455.55 (–1.15%)
- Nikkei 225 Futures (NK2251): 42,100.00 (–1.38%)
- Euronext 100 Index (N100): 1,589.78 (–0.68%)
- FTSE 100 (UKX): 9,193.80 (–0.30%)
Major Stocks
- Nvidia (NVDA): 174.18 (–3.32%)
- Tesla (TSLA): 333.87 (–3.50%)
- Microsoft (MSFT): 506.69 (–0.58%)
- Meta Platforms (META): 738.70 (–1.65%)
- Apple (AAPL): 232.14 (–0.18%)
- Amazon (AMZN): 229.00 (–1.12%)
Commodities
- Gold (XAUUSD): 3,446.81 (+0.88%)
- Silver (XAGUSD): 39.61 (+1.77%)
- WTI Crude (USOIL): 64.00 (–0.48%)
- Brent Crude (BRENT): 68.17 (–3.68%)
Forex
- U.S. Dollar Index (DXY): 97.43 (-0.03%)
- EUR/USD: 1.1685 (+0.02%)
- GBP/USD: 1.3503 (–0.06%)
- USD/JPY: 147.04 (+0.07%)
Cryptocurrencies
- Bitcoin (BTCUSD): 109,062 (+0.22%)
- Ethereum (ETHUSDT): 4,460.41 (+1.98%)
- Binance Coin (BNBUSDT): 828.32 (+0.50%)
- Solana (SOLUSD): 204.83 (+1.04%)
- BTC Dominance (BTC.D): 57.99% (–0.25%)
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