Money markets started to show signs of strain from this week’s extreme volatility. Three-month cross-currency basis swaps for the euro hit their lowest since last April. The lower the number, the greater the demand among investors to hold dollars rather than euros.
Oil prices plunged by more than 11%, the steepest percentage drop of any session since 2022, a day after U.S. President Donald Trump predicted a quick end to the war with Iran that has disrupted global crude flows.
Elon Musk’s rocket and satellite maker SpaceX is leaning toward listing its shares on the Nasdaq for what could rank as the biggest initial public offering of all time. SpaceX wants early inclusion on the Nasdaq 100 index , making it a necessary condition for a potential listing on the tech-heavy exchange.
Gold fell more than 1%, pressured by a stronger dollar and expectations of higher interest rates as the Middle East conflict fuelled inflation concerns. U.S. gold futures for April delivery settled 1.1% lower.
Canada’s main stock index recouped its earlier sharp declines, led by gains for technology shares, as hopes rose that the war in the Middle East could soon end after investors had worried the conflict would lead to another burst of inflation.
Nasdaq announced it will collaborate with Payward, parent company of cryptocurrency exchange Kraken, to develop tokenization infrastructure, aiming to capitalize on the growing interest in blockchain-based equities.
