Financial Markets Daily Report
04 febrer 2026
Rising concerns over intensifying competition in the AI sector triggered a sharp sell-off in technology stocks, weighing on broader market sentiment. Euro area equity indices mostly closed modestly lower, while US equities saw larger declines. On both sides of the Atlantic, cyclical sectors, including industrials and energy, outperformed on a relative basis.
In commodity markets, the sell-off in gold and silver that began late last week paused, with both precious metals rebounding by around 6% during yesterday’s session. The US dollar’s recent strengthening also stalled, with the greenback edging lower, leaving the euro trading just above USD 1.18.
In sovereign bond markets, euro area yields edged higher, despite news that the French parliament approved the government’s latest 2026 budget proposal. US Treasury yields were broadly flat. On the trade front, the United States and India reached an agreement to lower US tariffs on Indian imports from 25% to 18%.