Most Asian stock markets fell while gold prices went up after former US President Donald Trump fired Federal Reserve Governor Lisa Cook. The sudden removal of a key official from the US central bank has made investors nervous, leading to uncertainty in global markets.
Stock markets in countries like Japan, China, and South Korea saw losses as traders worried about what the change at the Federal Reserve could mean for the US economy and interest rates. Investors often react strongly to unexpected changes in important financial positions, and this move by Trump has added to concerns about the future direction of US monetary policy.
At the same time, the price of gold increased. Gold is often seen as a safe investment during times of uncertainty or market trouble. As a result, many investors moved their money from stocks to gold to protect their wealth.
Financial experts say that markets may remain unstable until there is more clarity about the Federal Reserve’s plans and leadership. They also note that any further changes in US economic policy could continue to affect markets around the world.
For now, Asian markets are mostly down, and gold prices are up as investors watch for more news and try to manage the risks caused by the sudden firing of Lisa Cook.