Global Stocks Surge Amid Tech Gains and Fed Messages

MSCI's global stock index experienced a surge on Monday, spurred by significant gains in major U.S. technology stocks. As gold prices reached new heights and the U.S. dollar showed a decline, investors were processing varied statements from Federal Reserve officials regarding potential interest rate cuts.

President Donald Trump's recent announcement demanding that U.S. companies pay $100,000 for new H-1B worker visas threatened the dominant U.S. tech sector, impacting India's information technology sector adversely. Meanwhile, Wall Street pursued its record highs led by strong performances from Nvidia and Apple Inc.

Although the Federal Reserve's diverse views sparked some volatility, U.S. stock markets saw mixed openings with subsequent recovery. Currency markets noted the dollar's retreat, while U.S. Treasuries exhibited stability following an interest rate cut last week. Geopolitical tensions continued to affect precious metals and energy markets, sustaining elevated gold prices. Cryptocurrency markets showed a decline, notably in Bitcoin and Ethereum.

(With inputs from agencies.)