Market Update:
The Dow Jones Contracted 1.6% to 25017 whilst the S&P 500 declined 1.7% to 2691 overnight as investor confidence in the technology sector was shaken. Broader Investor pessimism increased on escalating trade tensions between the US and China; Russia is a step closer to tightening natural gas controls on Turkey and southern Europe whilst the U.S. aims to curb the expansion of Kremlin-backed energy projects; Oil prices gained ground as traders weighed countervailing signals about the amount OPEC can afford to trim crude production, futures in New York climbed 0.5 percent, after reversing direction multiple times Monday; Gold equities are gaining further investor interest as an index of miners tracked by Bloomberg intelligence recorded a fourth straight gain which is the longest rally observed since September; Nickel fell 1.6% overnight to 11,108US$/t (an 11month low) after the Philippines granted a reprieve to major producers who were previously ordered to halt production.
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