- Asian markets tumble following Wall Street losses, with China leading declines. Hong Kong's Hang Seng fell 1.9%, Japan's Nikkei dropped 1.3%, China's CSI 300 declined 2%. South Korea's KOSPI bucks trend, rising 0.3%.
- China's Central Economic Work Conference disappoints stimulus hopes. State media indicates higher deficit and looser policy ahead, but markets view measures as insufficient. ANZ expects 4.9% GDP growth in 2024, warns of property market risks.
- SEC reopens investigation into Musk's Neuralink, issues 48-hour settlement deadline over unspecified charges. Musk's lawyer calls it "harassment" in letter to SEC Chair Gensler.
- ECB cuts rates 25bps with sources indicating some members favored larger 50bps move. Markets pricing slower Fed easing in 2025 as dollar hits 2.5-week high against major peers.
- Dollar strengthens ahead of Fed meeting, with 96.4% probability of 25bps cut next week. Markets reduce odds of January cut to 20% amid sticky inflation data. USDJPY jumps to 152.9, while EURUSD hovers around 1.04635.
- Oil stabilizes with Brent at $73.48 and WTI at $69.68, heading for first weekly gain since November. IEA raises 2025 demand forecast but warns of surplus.
- Gold steady at $2,687 after steep losses, retains weekly gains on geopolitical tensions. Copper falls to $9,093 as China stimulus disappoints.
- Japan's Tankan survey shows improved business sentiment, but companies cautious on outlook. BOJ expected to maintain rates next week amid global uncertainties.
- South Korean parliament prepares impeachment vote against President Yoon over martial law declaration. Political uncertainty weighs on markets.
- Markets focus shifts to Fed meeting next week, with key data including UK GDP and Eurozone industrial production due Friday.
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