Global Markets Hit Six-Year High as Oil Prices Retreat

The rally is underpinned by an unrelenting surge in AI-related equities. South Korea’s KOSPI and Taiwan’s benchmark indices have reached significant peaks, mirroring the momentum of the tech-heavy Nasdaq Composite, which climbed more than 20%. The MSCI All-World index has similarly breached record territory, while emerging market stocks continue to show broad-based strength.

Despite the equity boom, the U.S. dollar maintains its grip on developed markets, bolstered by gains against a basket of international peers. Emerging market currencies have also found footing against the greenback. The focus now shifts to Portugal, where Federal Reserve Chair Kevin Warsh is scheduled to address the ECB’s annual meeting. Market participants are bracing for his comments, seeking clarity on the future of interest rate policy amid these volatile economic conditions.