Asian stocks extended losses for a second day, mirroring a Wall Street selloff driven by concerns over AI’s impact on software profits and rising U.S. layoffs. Precious metals and cryptocurrencies also experienced significant volatility, with gold, silver, bitcoin, and ether all declining sharply.
Bullion’s biggest selloff: How macro shocks triggered a healthy correction in gold, silver
Gold and silver saw their sharpest selloff in months as macro shocks, including a stronger US dollar, CME margin hikes and profit booking, triggered a