Global financial markets are entering one of the most tense days of the month. Investors are reducing their risk appetite in anticipation of the U.S. Fed minutes and the Nvidia report. S&P 500 −0.67%, KOSPI −3.25%, the tenge weakened to 471.93 ₸ per dollar.

📉 USA: Market Goes into Correction

American indices are declining amid investor caution ahead of key publications: Dow Jones — 49,363.88 (−0.65%) · S&P 500 — 7,353.61 (−0.67%) · NASDAQ — 25,870.71 (−0.84%).

The greatest pressure is in the technology and growth stocks sector. Traders are partially taking profits after the prolonged AI rally of recent months.

⚡ Nvidia — The Main Event of the Day

The quarterly report of Nvidia — the main driver of the global AI boom — has the potential to turn the entire market. Under pressure: semiconductors, data centers, technology ETFs, and growth stocks worldwide.

Investors are watching not only for profits but also for forecasts on demand for AI infrastructure in the second half of 2026.

🏦 In Focus — Central Banks

The main topic of global markets is rates and inflation. Key publications of the day: China's LPR (04:15 MSK) · Germany's PPI (09:00 MSK) · UK CPI (09:00 MSK) · Eurozone CPI (12:00 MSK) · U.S. Fed minutes (21:00 MSK).

It is the rhetoric of the Fed and ECB that shapes expectations for the further movement of the dollar, bonds, and the stock market. Europe is trading mixed: DAX +0.38% · CAC 40 −0.07%.

🌏 Asia Under Pressure

Asian markets closed predominantly lower: KOSPI −3.25% · Nikkei 225 −0.44% · Hang Seng +0.48% · ASX 200 +1.17%.

Particularly strong pressure is on the South Korean market: investors actively reduced positions in the technology sector amid concerns that high yields on U.S. bonds will limit the growth of AI companies in the region.

💵 Currency Market and Commodities

In the currency market, attention is focused on signals from the Fed and ECB. The dollar remains resilient, and risk appetite is declining. Gold and silver have entered a consolidation phase after sharp movements in recent weeks.

Today at 17:30 MSK, data on U.S. oil inventories from EIA will be released — the publication could trigger increased volatility in Brent, WTI, oil and gas stocks, and commodity currencies.

🇰🇿 Kazakhstan: Tenge Weakens, KASE Stabilizes

Official exchange rates of the National Bank of Kazakhstan: USD/KZT — 471.93 ₸ · EUR/KZT — 548.43 ₸ · RUB/KZT — 6.61 ₸ · CNY/KZT — 69.35 ₸. Dollar sales in exchange offices — 473.1–473.9 ₸. The KASE index is trading in the range of 7520–7607 points.

The positive from the results of Kaspi.kz is offset by the correction of Kazatomprom. Kaz Minerals plans to nearly double production at a strategic site. Market capitalization is about 24% of the country's GDP.

⚡ In Focus Today: Nvidia report and the fate of the AI sector · Fed minutes (21:00 MSK) · Eurozone and UK CPI · EIA oil inventories (17:30 MSK) · China's LPR rate.