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Taiwanese tech titan TSMC has started mass producing its cutting-edge 2-nanometre semiconductor chips, the company said in a statement seen by AFP on Wednesday.TSMC is the world’s largest contract maker of chips, used in everything from smartphones to missiles, and counts Nvidia and Apple among its clients.”TSMC’s 2nm (N2) technology has started volume production in 4Q25 as planned,” TSMC said in an undated statement on its website.The chips will be the “most advanced technology in the semiconductor industry in terms of both density and energy efficiency”, the company said. “N2 technology, with leading nanosheet transistor structure, will deliver full-node performance and power benefits to address the increasing need for energy-efficient computing.”The chips will be produced at TSMC’s “Fab 20” facility in Hsinchu, in northern Taiwan, and “Fab 22” in the southern port city of Kaohsiung. More than half of the world’s semiconductors, and nearly all of the most advanced ones used to power artificial intelligence technology, are made in Taiwan.TSMC has been a massive beneficiary of the frenzy in AI investment. Nvidia and Apple are among firms pouring many billions of dollars into chips, servers and data centres.AI-related spending is soaring worldwide, and is expected to reach approximately $1.5 trillion by 2025, according to US research firm Gartner, and over $2 trillion in 2026 — nearly two percent of global GDP.Taiwan’s dominance of the chip industry has long been seen as a “silicon shield” protecting it from an invasion or blockade by China — which claims the island is part of its sovereign territory — and an incentive for the United States to defend it.But the threat of a Chinese attack has fuelled concerns about potential disruptions to global supply chains and has increased pressure for more chip production beyond Taiwan’s shores.Chinese fighter jets and warships encircled Taiwan during live-fire drills this week aimed at simulating a blockade of the democratic island’s key ports and assaults on maritime targets.Taipei, which slammed the two-day war games as “highly provocative and reckless”, said the manoeuvre failed to impose a blockade on the island.TSMC has invested in chip fabrication facilities in the United States, Japan and Germany to meet soaring demand for semiconductors, which have become the lifeblood of the global economy.But in an interview with AFP this month, Taiwanese Deputy Foreign Minister Francois Chih-chung Wu said the island planned to keep making the “most advanced” chips on home soil and remain “indispensable” to the global semiconductor industry.

Japanese tech investor SoftBank said Wednesday that its stake in OpenAI is now around 11 percent after completing the second stage of a $41-billion investment in the maker of ChatGPT.Having made colossal profits as well as losses on previous investments, flamboyant founder Masayoshi Son has pivoted SoftBank towards artificial intelligence (AI).SoftBank had announced in April its planned investment of up to $40 billion in Open AI, and on Wednesday it said that the second tranche of $22.5 billion was completed.The final investment reached $41 billion and includes $30 billion from SoftBank’s Vision Fund plus $11 billion from other third-party co-investors, it said.”We are deeply aligned with OpenAI’s vision of ensuring AGI benefits all of humanity,” Son, 68, said in a statement.AGI refers to artificial general intelligence, the mooted next stage of AI when computers could outperform humans in different tasks.”SoftBank saw the potential of AI early and committed with a deep belief in its impact on humanity,” said OpenAI chief Sam Altman.”Their global leadership and scale help us move faster and bring advanced intelligence to the world,” Altman said in the joint statement.SoftBank and OpenAI, with Oracle, are also leading the $500-billion Stargate project to build AI infrastructure in the United States announced by President Donald Trump in January 2025.SoftBank also announced this week that it is buying US data centre investor DigitalBridge in a deal worth around $4 billion.

Stock markets were mixed on Tuesday while silver prices rebounded amid volatile trading in precious metals.Wall Street’s main indices closed slightly lower as worries over valuations of artificial intelligence stocks lingered in the final days of the year.”There hasn’t been much that has moved markets” in the past few days, said Art Hogan of B. Riley Wealth Management. “Today is no different.”Adam Sarhan of 50 Park Investments told AFP that it is “perfectly normal for the market to pause, consolidate, go down a little bit.””Right now, the market is consolidating a very strong rally from April’s low until October,” he added.The major US indices remain on track for solid gains over the full year.The Federal Reserve’s monetary easing in the second half of this year has been a key driver of the rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in AI for some time.Minutes of the Fed’s recent policy meeting in December indicated that most Fed officials see further rate cuts as appropriate, if inflation cools over time as expected.But when it came to the extent and timing of reductions, some officials suggested that it was likely appropriate to keep levels unchanged for some time after December’s cut.”Perhaps one of the biggest threats to stock indices for 2026 is an end to interest rate cuts, or even rate hikes in the major economies,” Kathleen Brooks, research director at trading group XTB, noted Tuesday.Investors, including central banks, have been piling into dollar-denominated silver and gold on expectations of more cuts to US interest rates next year.Gold, in particular, has rocketed to record highs this year thanks to its status as a safe-haven investment amid geopolitical unrest.The price of silver jumped 5.5 percent to $76.09 an ounce Tuesday, having reached a record-high $84 on Monday before tumbling as investors booked profits.Silver, a key industrial metal as well as being used for jewellery, has won additional support from tight supply concerns.Europe’s main stock markets ended the day with gains.Frankfurt, which is closed on Wednesday, ended the year with a gain of 23 percent.The CAC 40 index in Paris was heading for an annual gain of more than 10 percent and London’s FTSE 100 of over 21 percent.Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.In company news, shares in Facebook owner Meta rose 1.1 percent after it announced it had agreed to buy Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore.- Key figures at around 2115 GMT – New York – Dow: DOWN 0.2 percent at 48,367.06 points (close)New York – S&P 500: DOWN 0.1 percent at 6,896.24 (close)New York – Nasdaq Composite: DOWN 0.2 percent at 23,419.08 (close)London – FTSE 100: UP 0.8 percent at 9,940.71 (close)Paris – CAC 40: UP 0.7 percent at 8,168.15 (close)Frankfurt – DAX: UP 0.6 percent at 24,490.41 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)Euro/dollar: DOWN at $1.1748 from $1.1766 on MondayPound/dollar: DOWN at $1.3468 from $1.3504Dollar/yen: UP at 156.43 yen from 156.06 yen Euro/pound: UP at 87.23 pence from 87.00 pence Brent North Sea Crude: FLAT at $61.92 per barrelWest Texas Intermediate: DOWN 0.2 percent at $57.95 per barrelburs-rl/tmc-bys/jgc

Stocks markets mostly moved higher on Tuesday while silver prices rebounded amid volatile trading in precious metals.Wall Street’s main indices were barely changed in early afternoon trading as worries over valuations of artificial intelligence stocks lingered in the final days of 2025.”It’s perfectly normal for the market to pause, consolidate, go down a little bit, so on,” said Adam Sarhan of 50 Park Investments.”Right now, the market is consolidating a very strong rally from April’s low until October,” he added.The blue-chip Dow was still heading nevertheless for a gain of more than 13 percent in 2025, while the broader S&P 500 was on track for an increase of more than 17 percent and the tech-heavy Nasdaq was up more than 21 percent.The Fed’s monetary easing in the second half of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Investors were awaiting minutes from the Federal Reserve’s most recent policy meeting to scour for clues on the outlook for US interest rates next year.”Perhaps one of the biggest threats to stock indices for 2026 is an end to interest rate cuts, or even rate hikes in the major economies,” Kathleen Brooks, research director at trading group XTB, noted Tuesday.Investors, including central banks, have been piling into dollar-denominated silver and gold on expectations of more cuts to US interest rates next year.Gold, in particular, has rocketed to record highs this year thanks to its status as a safe-haven investment amid geopolitical unrest.The price of silver jumped more than three percent to $74.47 an ounce Tuesday, having reached a record-high $84 on Monday before tumbling as investors booked profits.Silver, a key industrial metal as well as being used for jewellery, has won additional support from tight supply concerns.Europe’s main stock markets ended the day with gains.Frankfurt, which is closed on Wednesday, ended the year with a gain of 23 percent.The CAC 40 index in Paris was heading for an annual gain of more than 10 percent and London’s FTSE 100 of over 21 percent.Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.In company news, shares in Facebook owner Meta rose 1.1 percent after it announced it had agreed to buy Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore.- Key figures at around 1630 GMT – New York – Dow: DOWN less than 0.1 percent at 48,418.63 pointsNew York – S&P 500: UP less than 0.1 percent at 6,910.34New York – Nasdaq Composite: UP 0.1 percent at 23,503.47London – FTSE 100: UP 0.8 percent at 9,940.71 (close)Paris – CAC 40: UP 0.7 percent at 8,168.15 (close)Frankfurt – DAX: UP 0.6 percent at 24,490.41 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)Euro/dollar: DOWN at $1.1762 from $1.1766 on MondayPound/dollar: DOWN at $1.3472 from $1.3504Dollar/yen: UP at 156.27 yen from 156.06 yen Euro/pound: UP at 87.31 pence from 87.00 pence Brent North Sea Crude: UP 0.2 percent at $61.61 per barrelWest Texas Intermediate: UP 0.3 percent at $58.27 per barrelburs-rl/rmb

European stock markets rose Tuesday after Tokyo closed out a strong year, as silver prices rebounded amid volatile trading in precious metals.Wall Street stocks opened flat, while the dollar pushed higher against main rivals awaiting minutes from the Federal Reserve’s most recent policy meeting.Investors will scour the minutes later in the day for clues on the outlook for US interest rates next year.”Perhaps one of the biggest threats to stock indices for 2026 is an end to interest rate cuts, or even rate hikes in the major economies,” Kathleen Brooks, research director at trading group XTB, noted Tuesday.Investors, including central banks, have been piling into dollar-denominated silver and gold on expectations of more cuts to US interest rates next year.Gold, in particular, has rocketed to record highs this year thanks to its status as a safe haven investment amid geopolitical unrest.The price of silver jumped more than three percent to $74.47 an ounce Tuesday, having reached a record-high $84 on Monday before tumbling as investors booked profits.Silver, a key industrial metal as well as being used for jewellery, has won additional support from tight supply concerns.Equity traders were taking it easy in the last few days of 2025 following a stellar 12 months that have seen tech firms push several stock markets to all-time highs.Wall Street stocks “faced some mild post-Christmas indigestion on Monday, but even with that slight dip, the major averages remain not far from their best levels of the year,” said market analyst Patrick O’Hare at Briefing.com. The blue-chip Dow is heading for a gain of more than 13 percent in 2025, while the broader S&P 500 is on track for an increase of more than 17 percent and the tech-heavy Nasdaq is up more than 21 percent.The Fed’s monetary easing in the second half of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It has also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.London, Frankfurt and Paris were all higher in afternoon trading. The CAC 40 index in Paris was heading for an annual gain of more than 10 percent, London’s FTSE 100 of over 21 percent and the DAX 40 in Frankfurt a gain of around 23 percent.In company news, shares in Facebook owner Meta rose 0.6 percent after it announced it had agreed to buy Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore.- Key figures at around 1430 GMT – New York – Dow: FLAT at 48,457.98 pointsNew York – S&P 500: FLAT at 6,903.89New York – Nasdaq Composite: DOWN less than 0.1 percent at 23,457.49 London – FTSE 100: UP 0.6 percent at 9,928.33 Paris – CAC 40: UP 0.5 percent at 8,153.17Frankfurt – DAX: UP 0.6 percent at 24,490.41Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)Euro/dollar: DOWN at $1.1760 from $1.1766 on MondayPound/dollar: DOWN at $1.3476 from $1.3504Dollar/yen: UP at 156.26 yen from 156.06 yen Euro/pound: UP at 87.25 pence from 87.00 pence Brent North Sea Crude: UP 0.4 percent at $61.73 per barrelWest Texas Intermediate: UP 0.5 percent at $58.39 per barrelburs-rl/gv

Precious metals extended losses Tuesday on profit-taking after hitting recent records, while equities fluctuated in quiet trade as investors wound down ahead of the New Year break.Traders were taking it easy in the last few days of 2025 following a stellar 12 months that have seen tech firms push several stock markets to all-time highs, while bitcoin, gold and silver have also enjoyed multiple peaks.Minutes from the Federal Reserve’s most recent policy meeting — at which it cut interest rates a third straight time — are due to be released later in the day and will be scanned for an idea about whether a fourth can be expected in January.The US central bank’s monetary easing in the back end of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It has also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Still, Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.London rose at the open, Frankfurt was flat and Paris dipped.The mixed performance followed losses for all three main indexes on Wall Street.The big moves of late have been seen in precious metals, with gold hitting a record just shy of $4,550. Silver, meanwhile, topped out at $84 after soaring around 150 percent this year.Investors have been piling into the commodities on bets for more US rate cuts, a weaker dollar and geopolitical tensions.Silver has also been boosted by increased central bank purchases and supply concerns.However, both metals have pulled back sharply this week on profit-taking, with gold now around $4,360 and silver at $74.50.”Headlines screamed collapse, but zooming out, all that really happened was a reset to three- or four-day levels,” wrote SPI Asset Management’s Stephen Innes.”The market ran hot, tripped over its own shoelaces, and landed back where it had been standing earlier in the week. One beneficial side effect is that silver flushed enough excess to no longer screen as overbought, which matters more than the move itself.”Oil dipped, having jumped more than two percent Monday when investors rowed back bets on peace talks to end Russia’s war with Ukraine as a meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky ended with little progress.That surge followed Friday’s similar-sized rally on optimism for a breakthrough to end the nearly four-year conflict.An end to the war could see sanctions on Russian oil removed, which would see a huge fresh supply hit the market.Bitcoin, which has tumbled since spiking above $126,000 in October, was stabilising just below $90,000 after a shaky end to the year.- Key figures at around 0815 GMT – Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)London – FTSE 100: UP 0.1 percent at 9,878.94 Euro/dollar: UP at $1.1768 from $1.1766 on MondayPound/dollar: DOWN at $1.3503 from $1.3504Dollar/yen: DOWN at 156.00 yen from 156.06 yen Euro/pound: UP at 87.15 pence from 87.00 pence West Texas Intermediate: FLAT at $58.07 per barrelBrent North Sea Crude: FLAT at $61.92 per barrelNew York – Dow: DOWN 0.5 percent at 48,461.93 (close)

Precious metals extended losses Tuesday on profit-taking after hitting recent records, while equities fluctuated in quiet trade as investors wound down ahead of the New Year break.Traders were taking it easy in the last few days of 2025 following a stellar 12 months that have seen tech firms push several stock markets to all-time highs, while bitcoin, gold and silver have also enjoyed multiple peaks.Minutes from the Federal Reserve’s most recent policy meeting — at which it cut interest rates a third straight time — are due to be released later in the day and will be scanned for an idea about whether a fourth can be expected in January.The US central bank’s monetary easing in the back end of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It has also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Still, Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 25 percent — both having hit records earlier in the year.Still, both edged down Tuesday, with Shanghai, Sydney and Taipei also lower. Hong Kong, Singapore, Wellington and Jakarta rose. The mixed performance followed losses for all three main indexes on Wall Street.The big moves of late have been seen in precious metals, with gold hitting a record just shy of $4,550. Silver, meanwhile, topped out at $84 after soaring around 150 percent this year.Investors have been piling into the commodities on bets for more US rate cuts, a weaker dollar and geopolitical tensions.Silver has also been boosted by increased central bank purchases and supply concerns.However, both metals have pulled back sharply this week on profit-taking, with gold now around $4,340 and silver at $73.50.Oil dipped, having jumped more than two percent Monday when investors rowed back bets on peace talks to end Russia’s war with Ukraine as a meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky ended with little progress.That surge followed Friday’s similar-sized rally on optimism for a breakthrough to end the nearly four-year conflict.An end to the war could see sanctions on Russian oil removed, which would see a huge fresh supply hit the market.Bitcoin, which has tumbled since spiking above $126,000 in October, was stabilising just below $90,000 after a shaky end to the year.- Key figures at around 0230 GMT – Tokyo – Nikkei 225: DOWN 0.1 percent at 50,465.35 Hong Kong – Hang Seng Index: UP 0.2 percent at 25,675.05Shanghai – Composite: DOWN 0.3 percent at 3,954.87Euro/dollar: UP at $1.1770 from $1.1766 on MondayPound/dollar: DOWN at $1.3499 from $1.3504Dollar/yen: UP at 156.30 yen from 156.06 yen Euro/pound: UP at 87.20 pence from 87.00 pence West Texas Intermediate: DOWN 0.3 percent at $57.91 per barrelBrent North Sea Crude: DOWN 0.3 percent at $61.75 per barrelNew York – Dow: DOWN 0.5 percent at 48,461.93 (close)London – FTSE 100: FLAT at 9,866.53 (close)

Silver and gold tumbled Monday in a round of profit-taking as oil prices strengthened and global equities opened the final trading week of 2025 in lackluster fashion.After a string recent records, silver prices sank around 10 percent while gold and other metals also pulled back.”What goes up must come down, and the pullback in silver has been rapid, as investors book profits before year end, after the silver price has surged more than 150 percent in 2025,” said a note from Kathleen Brooks of XTB.While “there is undoubtedly a bubble in silver,” stockpiling by China could limit the downside from here, said Brooks.”The sell-off in silver is leading to a general risk off tone elsewhere,” she added.Some of the same dynamics appeared to drive activity on Wall Street where all three major indices spent the day in the red.The broad-based S&P 500, which has risen more than 17 percent so far in 2025, finished 0.4 percent lower.”People are probably just taking profits at this point” especially in the big tech stocks, said CFRA Research’s Sam Stovall.”Investors are really just sort of trimming their book, aligning their portfolio the way they would like it to look as they enter 2026.”In Europe, London and Frankfurt were both flat at the close while Paris barely inched into the green.While this week’s calendar is light as far economic releases, the minutes from the last Federal Reserve meeting are to be published Tuesday and traders will be poring over their contents for any indication about the Fed’s plans for 2026.The prospect of interest rate cuts has helped push world stock markets to multiple record highs this year, offsetting worries about stretched valuations in the tech sector.”Concerns about overvaluations and an AI bubble look set to continue to dominate market chatter into next year,” Victoria Scholar, head of investment at Interactive Investor, noted on Monday. Oil prices rose more than two percent, reversing a similar-sized Friday dip after a weekend meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky did not lead to an immediate breakthrough.An end to the war could see sanctions on Russian oil removed, adding to an oversupplied market.- Key figures at around 2115 GMT – New York – Dow: DOWN 0.5 percent at 48,461.93 (close)New York – S&P 500: DOWN 0.4 percent at 6,905.74 (close)New York – Nasdaq: DOWN 0.5 percent at 23,474.35 (close)London – FTSE 100: FLAT at 9,866.53 (close)Paris – CAC 40: UP 0.1 percent at 8,112.02 (close)Frankfurt – DAX: UP 0.1 percent at 24,351.124 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 50,526.92 (close) Hong Kong – Hang Seng Index: DOWN 0.7 percent at 25,635.23 (close)Shanghai – Composite: FLAT at 3,965.28 (close)Euro/dollar: DOWN at $1.1766 from $1.1772 on FridayPound/dollar: DOWN at $1.3504 from $1.3550Dollar/yen: DOWN at 156.06 yen from 156.57 yen Euro/pound: DOWN at 87.00 pence from 87.22 pence Brent North Sea Crude: UP 2.1 percent at $61.94 per barrelWest Texas Intermediate: UP 2.4 percent at $58.08 per barrel

Global stock markets were sluggish Monday on the back of a mixed Asian showing, as investors awaited fresh clues on the outlook for US interest rates.The dollar largely rose against main rivals, precious metals retreated from record highs and oil prices firmed in quiet post-Christmas trading with some focus on Ukraine talks.After the Federal Reserve lowered borrowing costs earlier in December, the US central bank indicated that it could stand pat when decision-makers gather again at the end of next month.Just over two hours into trading, Wall Street was in the red with the Dow off 0.6 percent at 48,428.57 points while the tech-heavy Nasdaq shed 0.7 percent and the S&P 500 was off half of one percent as tech stocks notably receded after recent gains.In Europe, London and Frankfurt were both flat at the close while Paris barely inched into the green.The minutes from the last Fed meeting are published Tuesday and traders will be poring over their contents for any indication about the Fed’s plans for 2026.The prospect of cuts has helped push world stock markets to multiple record highs this year, offsetting worries about stretched valuations in the tech sector.”Concerns about overvaluations and an AI bubble look set to continue to dominate market chatter into next year,” Victoria Scholar, head of investment at Interactive Investor, noted on Monday. On commodities markets, gold and silver slipped back after hitting all-time peaks in recent days.The precious metals had both hit record highs on expectations of more rate cuts, which made them more desirable to investors.Their status as a safe-haven asset in times of turmoil has also added to their allure given geopolitical upheaval from US strikes in Nigeria and a blockade of Venezuelan oil tankers.On Monday, gold was sitting under $4,400 an ounce, having peaked a whisker shy of $4,550 on Friday.Silver shed almost 10 percent on Friday’s close, sliding down to $71.86 an ounce having earlier touched a record above $84.Silver has seen a sharp run-up in recent weeks also owing to surging demand and tight supply.Oil prices rose two percent, reversing a similar-sized Friday dip following a weekend meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky on peace proposals.Trump said Monday he had a “positive” call with Russian counterpart Vladimir Putin after Sunday having said a deal was closer than ever to end the conflict.An end to the war could see sanctions on Russian oil removed, adding to an oversupplied market.- Key figures at around 1650 GMT – New York – Dow: DOWN 0.6 percent at 48,428.57 pointsNew York – S&P 500: DOWN 0.5 percent at 6,895.48 New York – Nasdaq: DOWN 0.7 percent at 23,428.97London – FTSE 100: FLAT at 9,866.53 (close)Paris – CAC 40: UP 0.1 percent at 8,112.02 (close)Frankfurt – DAX: FLAT at 24,351.124 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 50,526.92 (close) Hong Kong – Hang Seng Index: DOWN 0.7 percent at 25,635.23 (close)Shanghai – Composite: FLAT at 3,965.28 (close)Euro/dollar: DOWN at $1.1760 from $1.1776 on FridayPound/dollar: DOWN at $1.3492 from $1.3501Dollar/yen: DOWN at 156.02 yen from 156.50 yen Euro/pound: DOWN at 87.17 pence from 87.21 pence Brent North Sea Crude: UP 2.2 percent at $61.98 per barrelWest Texas Intermediate: UP 2.4 percent at $58.13 per barrel

Global stock markets marked time Monday after a mixed Asian showing, as investors awaited fresh clues on the outlook for US interest rates.The dollar largely rose against main rivals, precious metals retreated from record highs and oil prices firmed in quiet post-Christmas trading with some focus on Ukraine talks.After the Federal Reserve lowered borrowing costs earlier in December, the US central bank indicated that it could stand pat when decision-makers gather again at the end of next month.Wall Street opened just slightly down with tech stocks notably losing some ground after recent gains — the tech-heavy Nasdaq was off 0.4 percent shortly after the opening bell while the broader S&P 500 and the Dow lost around 0.2 percent.Major European markets were meanwhile largely flat some two hours from the close.The minutes from the last Fed meeting are published Tuesday and traders will be poring over their contents for any indication about the Fed’s plans for 2026.The prospect of cuts has helped push world stock markets to multiple record highs this year, offsetting worries about stretched valuations in the tech sector.”Concerns about overvaluations and an AI bubble look set to continue to dominate market chatter into next year,” Victoria Scholar, head of investment at Interactive Investor, noted on Monday. On commodities markets, gold and silver slipped after hitting all-time peaks in recent days.The precious metals had both hit record highs on expectations of more rate cuts, which made them more desirable to investors.Their status as a safe-haven asset in times of turmoil has also added to their allure amid geopolitical upheaval with US strikes in Nigeria and a blockade of Venezuelan oil tankers.On Monday, gold was sitting under $4,400 an ounce, having peaked a whisker shy of $4,550 on Friday.Silver slid below $73 an ounce after touching a record above $84 on Monday.Silver has seen a sharp run-up in recent weeks also owing to surging demand and tight supply.Oil prices rose two percent Monday, having sunk more than two percent Friday as investors eyed a weekend meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky on peace proposals.Trump said Sunday a deal was closer than ever to end Russia’s invasion of Ukraine but reported no apparent breakthrough on the issue of territory.An end to the war could see sanctions on Russian oil removed, adding to an oversupplied market.- Key figures at around 1450 GMT – New York – Dow: DOWN 0.2 percent at 48,596.85 pointsNew York – S&P 500: DOWN 0.2 percent at 6,915.15 New York – Nasdaq: DOWN 0.4 percent at 23,508.45London – FTSE 100: FLAT at 9,872.66Paris – CAC 40: UP 0.2 percent at 8,121.70Frankfurt – DAX: FLAT at 24,347.34Tokyo – Nikkei 225: DOWN 0.4 percent at 50,526.92 (close) Hong Kong – Hang Seng Index: DOWN 0.7 percent at 25,635.23 (close)Shanghai – Composite: FLAT at 3,965.28 (close)Euro/dollar: UP at $1.1783 from $1.1776 on FridayPound/dollar: UP at $1.3503 from $1.3501Dollar/yen: DOWN at 156.10 yen from 156.50 yen Euro/pound: UP at 87.27 pence from 87.21 pence Brent North Sea Crude: UP 2.1 percent at $61.91 per barrelWest Texas Intermediate: UP 2.2 percent at $58.01 per barrel