Key Takeaways
- Gold and Silver experienced their steepest one-day fall in a decade, with Gold plunging 6.3% and Silver 8.7%, driven by profit-taking and a stronger dollar.
- Anthropic is in early talks with Google (GOOGL) for a cloud computing deal worth tens of billions of dollars, aiming to boost its AI capabilities and compete with OpenAI's GPT models. Google shares rose 3.5%, while Amazon (AMZN), another Anthropic investor and cloud provider, slipped 2%.
- North Korea fired a ballistic missile toward the east, according to South Korea’s military, adding to regional tensions.
- Mexico's Economy Minister Marcelo Ebrard indicated the USMCA review is 90% complete and the trilateral trade pact is likely to remain in place, though steel and aluminum tariffs remain a point of contention with the U.S.
- Cable giant Charter (CHTR) announced layoffs of 1,200 workers, while Trump nominee Paul Ingrassia withdrew his candidacy for Special Counsel amid GOP pushback.
Precious metals experienced a significant downturn on Tuesday, October 21, 2025, as Gold saw its biggest one-day drop in years, plunging 6.3%, and Silver fell 8.7%, marking its steepest decline in a decade. This sharp correction followed a record rally, with analysts attributing the fall to profit-taking and a strengthening U.S. dollar. Despite the dramatic drop, some analysts view it as a temporary correction in the metals' market.
In the technology sector, AI startup Anthropic is reportedly in early discussions with Alphabet's Google (GOOGL) for a cloud computing deal potentially worth tens of billions of dollars. This strategic partnership aims to bolster Anthropic's AI capabilities and enhance its competition with OpenAI's GPT models. Following the news, Google shares rose 3.5%, while Amazon (AMZN), another significant investor and cloud provider for Anthropic, slipped 2%.
Geopolitical developments also captured headlines, with North Korea firing a ballistic missile towards the east, as reported by South Korea’s military. This action comes amidst ongoing regional tensions. Separately, Lithuania closed border crossings with Belarus after smugglers' balloons entered its airspace, according to the National Crisis Management Centre.
On the trade front, Mexico’s Economy Minister Marcelo Ebrard stated that the USMCA review is 90% complete, and the trilateral trade pact is likely to remain in place. However, Ebrard noted that the U.S. and Mexico are still working through unresolved issues concerning steel and aluminum tariffs.
In corporate news, cable giant Charter (CHTR) announced layoffs impacting 1,200 workers. Meanwhile, Paul Ingrassia, President Trump's nominee for Special Counsel, withdrew his candidacy for the position. His withdrawal occurred amid GOP pushback and reports of controversial past statements.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.