Energies
U.S. markets decline on growing fears of the national debt
Key Takeaways:
- Bitcoin hits a new all-time high above $111,950 as Bitcoin ETFs inflows jump.
- Bitcoin surged to a new historical high, breaking through $111,950, benefiting from a large influx of Bitcoin ETF funds.
- U.S. stock markets fall on fear of growing national debt
- US stocks fell on concerns about the rising national debt.
- Eyes on weekly unemployment claims in the U.S.
The market is paying attention to this week’s US initial jobless claims data.
U.S. Stock futures held steady overnight after Wednesday’s major sell-off triggered by deficit concerns. Futures on the Dow Jones Industrial Average fell slightly, while S&P 500 futures and Nasdaq 100 futures remained flat. Earlier, the Dow dropped 800 points and the S&P 500 fell 1.5% as Treasury yields spiked over budget deficit worries.
Due to the sell-off caused by deficit concerns, US stock futures remained stable on Wednesday night. The Dow Jones Industrial Average futures fell slightly, while the S & P 500 and Nasdaq 100 futures were basically flat. Previously, due to concerns about the fiscal deficit, the Dow Jones Industrial Average fell 800 points and the S & P 500 fell 1.5%.
Asia-Pacific markets declined Thursday following Wall Street losses due to U.S. budget deficit concerns. Japan’s benchmark Nikkei 225 dropped 1.07%, Topix 0.89%, and South Korea’s indices fell around 0.6%.
Australia’s S&P/ASX 200, Hong Kong’s Hang Seng index, and China’s CSI 300 all posted modest declines under 0.4%.
Due to concerns about the US fiscal deficit dragging down US stocks, Asia-Pacific stock markets generally fell on Thursday. Japan’s Nikkei 225 index fell 1.07%, the Topix index fell 0.89%, and the South Korean stock market also fell by about 0.6%. The Australia S & P/ASX 200, Hong Kong’s Hang Seng Index, and China’s CSI 300 index all fell slightly, with declines within 0.4%.
In the crypto market, Bitcoin (BTCUSD) hit a new record at $111,950 in early trading on Thursday driven by growing institutional acceptance.
Recent developments include the Senate advancement of stablecoin regulation, Trump’s Strategic Bitcoin Reserve initiative, and major banks like JPMorgan Chase, Morgan Stanley, and BlackRock entering the crypto market.
BlackRock’s iShares Bitcoin Trust (IBIT) attracted $6.5 billion in monthly inflows, rising to 5th place among U.S. ETFs.
Driven by the continuous improvement of institutional recognition, Bitcoin (BTCUSD) hit a new high on Thursday morning, breaking through $111,950. Recent benefits include the US Senate’s promotion of stablecoin regulation legislation, Trump’s proposal of a “strategic Bitcoin reserve” plan, and large Financial Institutions such as JPMorgan Chase, Morgan Stanley, and BlackRock accelerating their layout in the cryptocurrency market. Among them, BlackRock’s iShares Bitcoin Trust Fund (IBIT) earned $6.50 billion in a single month, ranking fifth in the US ETF.
In the Forex market, major pairs continue to fluctuate as uncertainty about the path of tariffs continues. The EURUSD and GBPUSD spiked to their higher levels since the beginning of May. USDJPY continues to decline, erasing most of its gains this month.
Weekly jobless claims data due Thursday will provide fresh labor market insights.
Due to the uncertainty of tariff prospects, major currency pairs in the foreign exchange market continue to fluctuate. EUR/USD and GBP/USD both rose to their highest levels since May, while USD/JPY continued to decline, almost giving back all of this month’s gains. Investors are waiting for the US weekly initial jobless claims data to be released on Thursday to get the latest job market trends.
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