Global Economy

Washington said it will continue to hold Tehran and its partners accountable so long as the regime seeks to evade sanctions and channel oil revenues into oppressive behavior, terrorism, and support for proxy groups.

India is expected to hold adequate stocks to meet domestic demand until the crushing of a larger crop begins in October.

The report also showed consumers grew more sanguine about the short-term inflation outlook.

European climate and energy policies are set to be among the issues discussed by the EU leaders at their informal gathering in Belgium on Feb. 12.

Jaishankar highlighted India's efforts towards greater resilience through initiatives including National Critical Minerals Mission and Rare Earth Corridors.

Japan's currency has weakened for the past four trading days, and is approaching 157 against the dollar on Thursday morning.

Markets put the chance of a quarter point rate cut at less than 1% and only one of 32 economists surveyed expects a reduction.

Jaishankar and Rubio discussed formalising bilateral cooperation on critical minerals exploration, mining, and processing, the State Department said.

Commerce Minister Piyush Goyal has announced that both India and US will release a joint statement soon.

The drop in flows to India has been offset by an increase in the amount being delivered to China

Trump on Monday said on his social media platform Truth Social that Prime Minister Narendra Modi promised to halt oil purchases from Russia in exchange for reduced US tariffs.

'Congratulations to the prime minister. Under his able leadership, new opportunities are opening up for the youth of India,' the BJP chief added.

The US has imposed a sweeping 50% tariff on Indian goods entering American markets from August 27.

Investors piled into gold and silver on renewed concerns about geopolitical upheaval, currency debasement, and threats to the Federal Reserves independence.

West Texas Intermediate traded near $62 a barrel after plunging 4.7% on Monday, while Brent futures settled above $66. US President Donald Trump said talks with Iran over a new nuclear deal could begin within days, after Tehran signaled it was ready to engage.

Recent government data also indicated solid business investment late last year.

Stocks trimmed losses and metals showed volatility after a choppy Wall Street close, reflecting fragile market sentiment ahead of key events this week.

Traders are bracing for increased volatility in Japanese markets ahead of the Feb. 8 snap lower house election.

Eight key members led by Saudi Arabia and Russia reaffirmed the pause — first agreed in November — during a video conference on Sunday, the group said in a statement.

Bitcoin fell as much as 10% to $75,709.88 during New York afternoon trading hours, while other tokens posted steeper losses. Ether, the second-largest digital asset, shed as much as 17%, and Solana at one point dropped over 17%.