Bitcoin extended its surge, as the world’s biggest cryptocurrency struck a record high of over US$98,000.
Oil prices rallied “as geopolitical tensions outweighed concerns over rising US crude supplies”, noted Matt Britzman, senior equity analyst, Hargreaves Lansdown.
“Geopolitical fears have also sent gold higher in recent sessions… as investors look for some safety as Russia-Ukraine tensions escalate,” he added.
Kyiv accused Russia of launching an intercontinental ballistic missile attack at Ukraine for the first time today but without a nuclear warhead in a new escalation of the conflict.
Awaiting Wall Street’s reopening, Asian and European stock markets travelled in different directions as blockbuster earnings late yesterday from US chip titan Nvidia smashed forecasts but fell short of investor hopes.
A driver of artificial-intelligence (AI) transitioning by companies, Nvidia’s market value has rocketed 200% over the last year to become the world’s-richest company.
But its stock fell in after-hours trading.
“The negative market reaction to Nvidia’s results suggests investors are now focusing on the minutiae rather than the big picture,” noted Dan Coatsworth, investment analyst at AJ Bell.
“That’s a natural evolution as the more people zoom in on a company, the more they learn about it, and the more granular detail they want.”
Elsewhere on the corporate front, shares in Indian conglomerate Adani Group tanked after US prosecutors charged its industrialist owner Gautam Adani with handing out more than US$250 million in bribes for key contracts.
Flagship operation Adani Enterprises dived almost 20%, while several of its subsidiaries — from coal to media businesses — lost between 10% and 20%.
On the upside, bitcoin closed in on US$100,000 having soared since Donald Trump was elected US president in early November.
“The bitcoin boom shows no signs of slowing, with the crypto king… edging closer to the coveted six-figure milestone,” added analyst Britzman.
Trump’s “return to the White House is fuelling hopes of a more crypto-friendly federal stance”, he said.