marketturbulencecountdown

Fitch Ratings has lowered its global economic growth outlook while raising its oil price forecast, warning that the oil shock from the conflict between the US and Iran is causing widespread damage to the global economy.
Now the agency expects global economic growth to hit 2.4% this year, trimming the previous estimate by 0.2 percentage points. "Forecasts have been revised down across the board as inflation growth is squeezing real wages, stifling consumption, and ramping up costs for companies," says the report from Fitch economists.

Gold futures took a dip during U.S. trading on Wednesday.
On COMEX, part of the New York Mercantile Exchange, August gold futures are trading at $4,474.70 per troy ounce, having dropped by 1.00% at the time of this comment.

The sentiment towards Ethereum has been labeled as an 'extreme fear zone' by Santiment. The ongoing lag of Ethereum behind Bitcoin and other major crypto assets has put pressure on market participants' sentiments.
'The crowd has written off Ethereum, which significantly increases the likelihood of a price rebound,' stated investment experts.

Japan's manufacturing activity in April expanded at the fastest pace in over a year, helping to offset weaker growth in the services sector, according to Thursday's purchasing managers' index data.
The preliminary S&P Global PMI index for Japan's manufacturing sector jumped to 54.9 in April from 51.6 in March, beating the forecast of 51.1.

On Thursday, May 7th, three tech companies announced major layoffs, directly linking them to the implementation of artificial intelligence, MarketWatch noted. The market reacted mixed: shares of some companies plummeted, while in other cases, investors viewed the business's bet on AI and cost-cutting positively.

One of the largest car ports in Europe, Bremerhaven on the North Sea in Germany, is undergoing a modernization with a budget of €1.35 billion. This measure, included in the German federal budget for 2026, is part of Berlin's broader efforts to prepare for a potential conflict. This was reported on Saturday, May 2, by Bloomberg.