Pre-Market Report – Wednesday 3 April: Gold in Favour | US Markets Slip on Powell Comments

Dow dropped 396.61 points, or 1%, and settled at 39,170.24. At its session low, the benchmark was down more than 500 points. The S&P 500 slid 0.72% to settle at 5,205.81. The Nasdaq Composite shed 0.95% to finish at 16,240.45. It was the worst day since March 5 for the Dow and the S&P 500.

ASX to open lower. SPI futures down 30 points.

• Gold shatters new records as Mideast tensions add to bullish mix.
• Oil settles up on supply threats, hits 2024 highs during session.
• Robust Chinese manufacturing data boosts copper.
• Ukrainian drone hits Russia's third-biggest refinery, damage not critical.
• India proposes national iron ore exchange to tackle price anomalies, document shows.
• Shanghai exchange to work on nickel futures internationalisation, industry association says.

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