{"id":55697,"date":"2025-11-06T22:38:35","date_gmt":"2025-11-07T02:38:35","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/"},"modified":"2025-11-06T22:38:35","modified_gmt":"2025-11-07T02:38:35","slug":"global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/","title":{"rendered":"Global Markets Reel as Asian Indices Plunge; US Pursues Critical Minerals, Canada Unveils &#8220;Significant&#8221; Budget"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/#Asian_Markets_Under_Pressure_Amid_Tech_Sell-Off\" >Asian Markets Under Pressure Amid Tech Sell-Off<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/#US_Strengthens_Critical_Mineral_Ties_with_Central_Asia\" >US Strengthens Critical Mineral Ties with Central Asia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/#Senate_Republicans_Block_Measure_on_Venezuela_Military_Action\" >Senate Republicans Block Measure on Venezuela Military Action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/#Chinas_Clean_Energy_Push_Supports_Paris_Climate_Accord\" >China&#39;s Clean Energy Push Supports Paris Climate Accord<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-reel-as-asian-indices-plunge-us-pursues-critical-minerals-canada-unveils-significant-budget\/55697\/#Bank_of_Canada_Governor_Praises_Carneys_Budget\" >Bank of Canada Governor Praises Carney&#39;s Budget<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Japan&#39;s Nikkei 225 Index plummeted 2.2% to 49,783.49, and the Topix Index fell 1.2% to 3,272.08 at the morning close<\/strong>, contributing to a broader Asian market downturn driven by a tech sell-off.<\/li>\n<li><strong>President Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> hosted Central Asian leaders<\/strong> at the White House, emphasizing the US&#39;s strategic push to secure critical mineral supply chains and counter the influence of China and Russia in the resource-rich region.<\/li>\n<li><strong>Senate Republicans rejected a measure to block military action in Venezuela<\/strong>, maintaining the administration&#39;s authority for strikes against alleged drug-smuggling boats.<\/li>\n<li><strong>China&#39;s substantial shift towards clean energy is being lauded as a critical factor in saving the Paris Climate Accord<\/strong>, particularly as the US administration under President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> remains skeptical and has begun withdrawal from the agreement.<\/li>\n<li><strong>Bank of Canada Governor Tiff Macklem described Prime Minister Mark Carney&#39;s latest budget as a &quot;significant change,&quot;<\/strong> highlighting its focus on reducing operating expenditures and boosting investment to stimulate the Canadian economy.<\/li>\n<\/ul>\n<p>Global markets are experiencing significant volatility, with Asian indices taking a hit, while geopolitical and economic developments unfold across North America and beyond. A tech sell-off on Wall Street has reverberated through Asian trading, leading to notable declines in key regional benchmarks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Asian_Markets_Under_Pressure_Amid_Tech_Sell-Off\"><\/span>Asian Markets Under Pressure Amid Tech Sell-Off<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Japanese equities saw substantial losses during morning trading. The Nikkei 225 Index dropped by <strong>2.2% to 49,783.49<\/strong>, while the broader Topix Index declined by <strong>1.2% to 3,272.08<\/strong> at the morning close. This downturn in Japan reflects a wider trend across Asia, where major indices are feeling the impact of a retreat from technology stocks.<\/p>\n<p>In Seoul, the KOSPI index experienced a <strong>2% decline<\/strong> during trading, with some reports indicating steeper intraday losses of up to 3% to 4% and even over 6% at one point. This regional weakness is largely attributed to concerns over high valuations in the tech sector following a sell-off in US technology shares. Futures for the Nasdaq 100 index in the US have also moved into <em>slightly negative territory<\/em>, signaling continued caution among investors.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_Strengthens_Critical_Mineral_Ties_with_Central_Asia\"><\/span>US Strengthens Critical Mineral Ties with Central Asia<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a strategic move to diversify supply chains, US President Donald Trump hosted leaders from five Central Asian nations\u2014Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan\u2014at the White House. The discussions centered on securing sources for <em>critical minerals<\/em> and rare earths, vital for high-tech industries including smartphones, electric vehicles, and fighter jets.<\/p>\n<p>This initiative aims to expand US influence in a region traditionally dominated by Russia and increasingly courted by China, as Western nations seek to reduce reliance on Beijing and Moscow for these essential resources. Central Asia holds vast, largely untapped reserves of minerals such as uranium, copper, <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a>, and rare earths.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Senate_Republicans_Block_Measure_on_Venezuela_Military_Action\"><\/span>Senate Republicans Block Measure on Venezuela Military Action<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The US Senate saw a contentious vote as Republicans rejected a measure designed to block further military action in Venezuela. The resolution, which failed by a vote of 48-51 or 49-51, sought to limit President Trump&#39;s authority to conduct military strikes on alleged drug-smuggling boats off the coast of Venezuela without congressional authorization.<\/p>\n<p>Democratic Senators Tim Kaine and Adam Schiff led the effort, arguing that such strikes risk escalating into a broader conflict and are unconstitutional without congressional approval. Despite the vote, the Trump administration has indicated it will continue its campaign against drug cartels, which it has designated as terrorist organizations, citing national security concerns.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chinas_Clean_Energy_Push_Supports_Paris_Climate_Accord\"><\/span>China&#39;s Clean Energy Push Supports Paris Climate Accord<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>China&#39;s significant investments and policy shifts towards clean energy are being recognized as instrumental in the global effort to combat climate change and uphold the Paris Climate Accord. The nation&#39;s commitment to achieving carbon neutrality by 2060, alongside its massive innovation ecosystem in clean energy, positions it as a <em>green superpower<\/em>.<\/p>\n<p>This development is particularly noteworthy given the US&#39;s current stance under President Trump, who has expressed skepticism about climate change and initiated the process of withdrawing from the Paris Agreement. China&#39;s leadership in renewable energy, including extensive solar parks and wind farms, underscores its pivotal role in the global energy transition.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bank_of_Canada_Governor_Praises_Carneys_Budget\"><\/span>Bank of Canada Governor Praises Carney&#39;s Budget<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Canada&#39;s economic landscape is also in focus, with Bank of Canada (BoC) Governor Tiff Macklem commenting on Prime Minister Mark Carney&#39;s (Carney&#39;s budget was introduced by Finance Minister Fran\u00e7ois-Philippe Champagne) recently unveiled budget. Macklem described the budget as a &quot;significant change,&quot; expressing optimism that it will encourage business investment and stimulate the economy.<\/p>\n<p>The budget includes <strong>$141 billion<\/strong> in new spending, partially offset by <strong>$51.2 billion<\/strong> in savings, resulting in a net new spend of <strong>$89.7 billion<\/strong> over five years. It allocates <strong>$280 billion<\/strong> over five years for capital investments in infrastructure, productivity, competitiveness, defense, security, and housing, with a projected federal deficit of <strong>$78.3 billion<\/strong> in 2025-2026. Key measures include a &quot;productivity super deduction&quot; and support for emerging technologies like artificial intelligence, quantum computing, and electric vehicles.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Japan&#39;s Nikkei 225 Index plummeted 2.2% to 49,783.49, and the Topix Index fell 1.2% to 3,272.08 at the 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