06/11/2026 – Daily Reports
INFLATION CONCERNS PERSIST DESPITE FALLING OIL PRICES
Oil prices fell approximately 20% over the week, dropping below $100 per barrel amid expectations that the conflict with Iran could come to an end. However, elevated energy and food costs, alongside signs of slowing global growth, continue to fuel concerns that inflation may remain persistent and central banks may keep interest rates higher for longer.
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AI SELL-OFF, JOBS DATA & METAL DIVERGENCE IN FOCUS
- Oil: Brent recovered after a sharp weekly decline, with Middle East supply risks keeping prices volatile despite easing geopolitical tensions.
- Equities: Nasdaq plunged 5.5% as concerns over AI infrastructure spending and potential data-centre restrictions triggered heavy selling in chipmakers.
- Gold & Silver: Gold eased toward $4,063 as higher oil prices revived inflation concerns, although it remains up around 4% this week. Silver and platinum extended weekly gains, showing relative strength.
- Copper & PGMs: Copper faces uncertainty from weaker risk appetite and industrial demand concerns, while platinum and palladium remain supported by this week’s recovery across precious metals.
AI SELL-OFF DEEPENS AS INVESTORS FLOCK TO SAFE-HAVEN ASSETS
- Wall Street: The Nasdaq dropped 5.5%, wiping out $2.5 trillion in market value, while S&P 500 companies lost another $3 trillion.
- AI Regulation: Democratic victories in the US midterm elections have raised concerns over tighter regulations on AI data centres and future investment plans.
- Safe Havens: Investors shifted towards government bonds, while the US dollar, Japanese yen and Swiss franc attracted safe-haven demand.
- Asia Intervention: South Korean and Taiwanese authorities took steps to ease selling pressure and stabilize their stock markets.
Global Market News Summary — 6 November 2026
- The Nasdaq 100 fell 6.4% on Thursday, its worst day since the COVID crash on March 16, 2020, and is now -11.9% below record closing high reached on October 6. Democratic victories by anti-AI candidates from Maine to Alaska added to existing fears about the durability of the AI boom. Nvidia fell 9.26%, Broadcom 10.43%, and the VanEck Semiconductor ETF lost over 11%. Nonfarm payrolls increased by 165,000 in October, compared with the Dow Jones estimate for 59,000, and the unemployment rate nudged down to 4.1%. Average hourly earnings rose 0.4% in October from a month earlier.
- The DAX closed 0.43% lower on Thursday, with the decline led by Rheinmetall (-16.46%), Infineon (-8.63%) and Siemens Energy (-5.04%). Rheinmetall fell after the company cut its 2026 sales forecast for the second time in three months. On Friday, the index opened about 1.5% lower, with Deutsche Post (-3.68%), Daimler Truck (-3.36%) and Bayer (-2.85%) leading losses.
- The Nikkei 225 plunged 5.96 , its fifth consecutive daily decline, entering bear-market territory more than 20% below its June peak. Advantest plunged 12%, SoftBank Group and Kioxia each shed 11%, and Tokyo Electron fell nearly 9%. Decliners outnumbered advancers on the Tokyo Stock Exchange by 3,589 to 118.
- Spot gold was $4030 per ounce as of 4:41 a.m. ET, down $76 on the day. December futures opened at $4,098.50, down 0.4% from Thursday’s close.
- Brent futures fell 1.38% to $96.66 per barrel by 4:38 a.m. ET, having jumped to almost $100 earlier in the session, and is down from a weekly peak above $110 on Monday. Iran reportedly sent a nuclear proposal to Washington through Qatar, according to Reuters. Iran also reported more tanker attacks in Hormuz.
