Global markets remain negative

Global markets are following a negative course as rising geopolitical risks and the selling pressure that started with technology stocks in US stock markets spread across the world.

Meanwhile, the selling pressure stemming from the trade wars between the US and China is seen to have spread across the markets, while macroeconomic data released in the US is said to have eased the policy space of the US Federal Reserve (Fed).

“After the cooling in the labor market in recent months, expectations for the policy rate at the end of the year rise to 49% at the strongest, suggesting that the Fed is expected to deliver three rate cuts,” said Chicago Fed President, Austan Goolsbee.

The European Central Bank (ECB) President Christine Lagarde stated that future interest rate decisions will continue to depend on the development of economic data, while giving no clear indication on the timing of the next rate cut.

Taiwan Semiconductor Manufacturing Company (TSMC) shares gained 0.36%, Broadcom's shares 2.9%, while Nvidia's shares fell sharply by 2.8% on Thursday.

US markets saw downturn on Thursday, with the Nasdaq index falling 0.7%, the S&P 500 dropping 0.78%, and the Dow Jones decreasing by 1.29%.

Volatility in bond markets continued to remain limited.

The dollar index stands at 104.2, while Brent crude oil prices have stabilized at $83.7 per barrel. The US 10-year bond yield closed at 4.20%, and gold prices were down by 0.9% to $2,423 an ounce.

In Europe, the FTSE 100 index in the UK rose 0.21%, Italy's MIB 30 index 0.43%, France's CAC 40 index 0.21% and Germany's DAX 40 index decreased 0.45% on Thursday. European index futures opened the day mixed.

In Türkiye, the BIST 100 index in Borsa Istanbul closed at 11,139.46 points, up 0.05% from the previous close. The USD/TRY exchange rate traded at 33.0801 at the opening of the interbank market on Thursday.

In addition, international credit rating agency Moody's expected to announce its assessment of Türkiye’s credit rating on Friday.

Asian equity markets witnessed continued selling pressure as a possible escalation in tensions between the US and China continued to cause jitters.

Near the close, Japan's Nikkei 225 index fell 0.4%, South Korea's Kospi index 1.3%, and China's Shanghai index 0.1%, and Hong Kong's Hang Seng composite index 0.2%.