Global Markets Rebound as U.S. Shutdown Averted, Trade Tensions Escalate

Asian stocks recover slightly after a turbulent week, while gold hits a record high and U.S.-EU trade disputes intensify with new tariff threats.

Asian markets saw modest gains on Friday, buoyed by optimism over U.S. Congress advancing a bill to prevent a government shutdown, with Hong Kong's Hang Seng Index rising 1% and China's CSI300 up 1.4%.
Gold reached an all-time high of $2,990.21 per ounce as investors sought safe-haven assets amidst fears of a U.S. recession and escalating global trade conflicts.
U.S. President Donald Trump threatened 200% tariffs on European wine and spirits in retaliation for the EU's planned levies on American whiskey, further intensifying trade tensions.
The S&P 500 entered correction territory following steep losses, reflecting ongoing market volatility tied to trade disputes and economic concerns.
The U.S. dollar showed resilience, recovering slightly against the euro and yen, while oil prices edged higher after recent declines, with Brent crude at $70.26 per barrel.