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Indian Stocks Stumble on Losses in Multiple Sectors

Shares of Indian companies traded lower amid losses the in power, capital goods and oil & gas sectors of the nation. Falling stocks on the India National Stock Exchange outnumbered those which were rising, with the fear index pegged to the nation (India VIX) trading higher to 19.33.


Russian Economy Minister Maxim Reshetnikov stated on Wednesday that Russia’s economy is expected to grow by 2.6% in the 2024-2025 year, as domestic consumption and demand for investment are on the rise. While GDP is likely to fall by 2.9% this year and 0.8% the next, Reshetnikov believes that the economic conditions of the nation will significantly improve in 2024.

Brazil is expected to witness wage hikes sometime in the future, according to Economy Minister Paulo Guedes. After years of no significant hike in minimum wages as the nation has been dealing with domestic conundrums, Guedes said that Brazil will finally “be able to give moderate salary increases based on prospective inflation from now on.”


The U.S. dollar escalated on Wednesday, currently near two-decade highs amid growing tensions resulting from Russian President Vladimir Putin’s tension over Ukraine. As traders await the highly-anticipated interest rate hike by the Federal Reserve, the dollar index, which tracks the greenback against other currencies, rose 0.43% to 110.420.


Gold prices slightly recovered on Wednesday from the lows of Tuesday, as investors and traders eagerly await the Federal Reserve’s next meeting with regards to hiking interest rates to tame inflation. Driven by a weaker greenback, the bullion traded 0.60% higher to $1,674 per ounce.


Oil prices rocket on Wednesday’s trading session after Russian President Vladimir Putin announced a partial military movement, and in-turn, escalating the war in Ukraine. As this daunts on the currently-constricted oil & natural gas supply amid high demand, Brent futures surged 2.35% to $92.75, while WTI crude futures soared 2.51% to $86.05 per barrel.


USA: S&P500 -1.13%, Dow Jones Industrial Average -1.01%, Nasdaq Composite -0.85%

Europe: FTSE 100 +0.88%, DAX -0.10%, CAC 40 +0.08%

Asia: Nikkei 225 -1.36%, Hang Seng -1.79%, CSI 300 -0.74%, Nifty 50 -0.55%


Toyota and Daimler Agree to Combine Japan Truck Operations

Daimler and Toyota announced on Tuesday that they had entered a non-binding agreement to combine the businesses of their truck units in Japan. Under the partnership’s memorandum of understanding (MOU), the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors would be combined under a holding company, as said in a statement.

OpenAI Has No Plans to Leave Europe

OpenAI CEO Sam Altman said on Friday that the corporation is not planning on leaving Europe and areas of the European Union, contrasting a threat made earlier in the week to exit the region if it becomes difficult to comply with stringent artificial intelligence laws. The European Union is drafting a first set of global rules to govern artificial intelligence and Altman believes that the current draft is “over-regulating”.

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