Global Stocks Tumble as Oil Prices Rise and AI Fears Grip Markets
The global stock markets are off to a negative start on Monday, weighed down by rising oil prices and concerns over AI regulation.
The US futures contracts are opening with sharp falls: the US100 is down 1.31 per cent, while the broad-based US500 is down 0.57 per cent.
This pessimism is spreading to Europe, where the German DE40 is down 0.29 per cent and the EU50 is down 0.37 per cent.
The People's Bank of China has announced it will step up support for the real economy, including measures to stabilise the property market and develop an offshore market for the yuan.
The Canadian dollar (CAD) is expected to be volatile after this afternoon's inflation data release from Canada, which could impact expectations regarding the Bank of Canada's interest rates.