Global stock markets wobbled on Thursday as sharp swings in silver and cryptocurrencies rattled investor confidence, adding to uncertainty already driven by shifting interest-rate expectations and mixed economic signals from major economies.
European equities traded lower in early sessions, while Asian markets closed mixed, as traders struggled to find direction amid volatile commodity and digital asset markets. U.S. stock futures also pointed to a cautious open on Wall Street.
Silver prices swung sharply, extending a period of heightened volatility that has seen the precious metal whipsaw between gains and losses in recent sessions. Analysts said the moves were driven by a combination of speculative positioning, changing expectations around U.S. interest rates, and renewed demand for safe-haven assets amid geopolitical and economic concerns.
Cryptocurrencies mirrored the turbulence. Bitcoin and other major digital tokens moved back and forth throughout the day, erasing early gains before stabilizing. Market participants cited profit-taking, regulatory uncertainty in key markets, and sensitivity to broader risk sentiment as factors behind the choppy trading.
“The volatility we’re seeing in silver and crypto is spilling over into equities,” said one market analyst. “When traditionally speculative assets swing this hard, it makes investors more cautious across the board.”
Investor nerves were further tested by uncertainty over the timing and pace of interest-rate cuts by the U.S. Federal Reserve. While recent data has hinted at easing inflation, policymakers have remained cautious, keeping markets guessing about when borrowing costs might start to fall.
Emerging markets were also affected, with currencies and stocks in several countries coming under pressure as the dollar hovered near recent highs. Higher U.S. yields and a firmer dollar tend to draw capital away from riskier assets, amplifying volatility.
Despite the day’s pullback, some analysts said the broader outlook for equities remains supported by expectations of eventual monetary easing and resilient corporate earnings, though they warned that near-term volatility is likely to persist.
“For now, markets are in a wait-and-see mode,” another analyst said. “Until there’s more clarity on rates and global growth, we should expect more back-and-forth moves across asset classes.”
Investors are now looking ahead to upcoming U.S. economic data and central bank commentary for fresh cues, while keeping a close eye on commodity and cryptocurrency markets that continue to act as barometers of global risk appetite.
