Gold and Bitcoin Soar as Tech Stocks Plummet Amid US Economic Uncertainty

Gold and Bitcoin have continued their upward trend as investors seek safe-haven assets amid growing economic uncertainty. According to Chris Beauchamp, Chief Market Analyst at IG, this is largely due to the shockwaves caused by US Treasury market intervention.

The FTSE 100 index has risen despite weakness in BP and pharmaceutical stocks, with gold offsetting these losses. In contrast, tech-heavy indices like the Nasdaq 100 have struggled, hurt by Nvidia's earnings and pre-game nervousness around other tech giants' announcements.

Both Bitcoin and gold have benefited from concerns about the US dollar being undermined, although their position as a dominant currency remains secure for now.