Global equities traded cautiously as investors awaited key US consumer inflation data due later today, a release seen as critical in shaping expectations for the Federal Reserve’s next policy move.
In Europe, the European Central Bank is widely expected to keep interest rates unchanged at 2% for a fourth consecutive meeting. At the same time, European governments are holding talks aimed at finding a sustainable framework to continue financing support for Ukraine, keeping geopolitics firmly in focus.
Technology stocks led losses in the US on Tuesday, with Oracle Corp. at the center of the selloff. The company shelved plans for a $10 billion data center after the investment firm backing the project withdrew, raising concerns about funding and growth prospects. Oracle’s credit-default swaps climbed to a record 152 basis points, while the stock has now fallen about 50% from its recent peak.
In Europe’s tech sector, ASML Holding NV slid 6% after reports that China has developed a prototype extreme-ultraviolet (EUV) lithography machine, with authorities targeting commercial production by 2028 — a development that could eventually challenge ASML’s near-monopoly in advanced chipmaking equipment.
Markets showed modest moves elsewhere. European shares rose about 0.25%, while Asian equities were mixed. US equity futures pointed to small gains at the open, suggesting a tentative rebound as traders position ahead of the CPI release.
In commodities, gold slipped 0.5% to $4,353 an ounce, easing from recent highs as investors weighed inflation risks against expectations of steady monetary policy.
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