{"id":56760,"date":"2025-12-02T00:08:35","date_gmt":"2025-12-02T04:08:35","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/"},"modified":"2025-12-02T00:08:35","modified_gmt":"2025-12-02T04:08:35","slug":"global-markets-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/","title":{"rendered":"Global Markets React to Oil Slump, Crypto Sell-Off, and Corporate Tariff Battles"},"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-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/#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-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/#Energy_Markets_Face_Bearish_Headwinds\" >Energy Markets Face Bearish Headwinds<\/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-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/#Crypto_Market_Experiences_Broad_Sell-Off\" >Crypto Market Experiences Broad Sell-Off<\/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-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/#Costco_Joins_Tariff_Lawsuits_Against_Trump_Administration\" >Costco Joins Tariff Lawsuits Against Trump Administration<\/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-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/#Asian_Markets_See_Biotech_Fundraising_and_Banking_Sector_Scrutiny\" >Asian Markets See Biotech Fundraising and Banking Sector Scrutiny<\/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-react-to-oil-slump-crypto-sell-off-and-corporate-tariff-battles\/56760\/#Bond_Markets_and_Currencies_Show_Mixed_Movements\" >Bond Markets and Currencies Show Mixed Movements<\/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>West Texas Intermediate (WTI) crude oil declined below $59.50, trading around $59.25, amidst a prevailing bearish outlook driven by renewed U.S. Dollar demand and persistent oversupply concerns.<\/strong><\/li>\n<li><strong>The cryptocurrency market experienced a significant sell-off, with AB (<a href=\"\/stock\/AB\">AB<\/a>), Zcash (<a href=\"\/stock\/ZEC\">ZEC<\/a>), and Monero (<a href=\"\/stock\/XMR\">XMR<\/a>) emerging as top losers, extending previous losses with AB down nearly 6% and Zcash falling below $350.<\/strong><\/li>\n<li><strong>Costco Wholesale Corp. (<a href=\"\/stock\/COST\">COST<\/a>) has joined a growing number of companies suing the Trump administration to secure eligibility for tariff refunds, highlighting inflationary pressures faced by businesses.<\/strong><\/li>\n<li><strong>Hong Kong banks are expected to absorb commercial real estate asset quality pressures into 2026, supported by solid capital positions, despite weak demand for office and retail properties.<\/strong><\/li>\n<li><strong>China&#39;s 3SBio is seeking US$400 million in Hong Kong to bolster its drug pipeline, while Indian bond yields saw a slight increase and the Rupee depreciated against the U.S. Dollar.<\/strong><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_Face_Bearish_Headwinds\"><\/span>Energy Markets Face Bearish Headwinds<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>West Texas Intermediate (WTI) crude oil prices have fallen below the <strong>$59.50<\/strong> mark, currently trading around <strong>$59.25<\/strong> in Tuesday&#39;s Asian session. This decline is attributed to a prevailing <em>bearish outlook<\/em>, fueled by renewed demand for the U.S. Dollar and persistent concerns about oversupply in the market, despite OPEC+&#39;s decision to pause planned supply increases. Technical analysis indicates a bearish bias, with immediate resistance at <strong>$60.80<\/strong> and support levels at <strong>$59.24<\/strong> and <strong>$57.69<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_Market_Experiences_Broad_Sell-Off\"><\/span>Crypto Market Experiences Broad Sell-Off<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The cryptocurrency market is undergoing a significant sell-off, with several major digital assets extending their losses. <strong>AB<\/strong> (<a href=\"\/stock\/AB\">AB<\/a>), <strong>Zcash<\/strong> (<a href=\"\/stock\/ZEC\">ZEC<\/a>), and <strong>Monero<\/strong> (<a href=\"\/stock\/XMR\">XMR<\/a>) are among the top performers on the downside. <strong>AB<\/strong> saw a nearly <strong>6%<\/strong> drop on Tuesday, adding to a <strong>7%<\/strong> decline from the previous day, and is now testing the crucial <strong>$0.00500<\/strong> psychological support level. Similarly, <strong>Zcash<\/strong> plunged below <strong>$350<\/strong> after a <strong>19%<\/strong> loss on Monday, with an additional <strong>3%<\/strong> decrease on Tuesday, pushing it towards the <strong>$300<\/strong> support. <em>Momentum indicators<\/em> for both cryptocurrencies are flashing sell signals, with <strong>Zcash&#39;s<\/strong> 4-hour Relative Strength Index (RSI) at <strong>19<\/strong>, indicating oversold conditions and intense selling pressure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Costco_Joins_Tariff_Lawsuits_Against_Trump_Administration\"><\/span>Costco Joins Tariff Lawsuits Against Trump Administration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Costco Wholesale Corp.<\/strong> (<a href=\"\/stock\/COST\">COST<\/a>), the largest warehouse club chain in the U.S., has become the latest major company to file a lawsuit against the Trump administration regarding its tariff policy. The lawsuit, filed on November 28, aims to ensure <strong>Costco&#39;s<\/strong> eligibility for tariff refunds should the U.S. Supreme Court ultimately declare the tariffs illegal. <strong>Costco<\/strong> is reportedly facing <em>inflationary pressure<\/em> due to these tariffs and stands out as the only retailer among dozens of companies, including <strong>Revlon<\/strong> and <strong>Kawasaki Motor<\/strong>, that have challenged the administration&#39;s use of economic emergency powers to impose levies. The Supreme Court heard arguments on November 5 and has fast-tracked the case, though a ruling date has not been announced.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Asian_Markets_See_Biotech_Fundraising_and_Banking_Sector_Scrutiny\"><\/span>Asian Markets See Biotech Fundraising and Banking Sector Scrutiny<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In China, biotech firm <strong>3SBio<\/strong> is looking to raise <strong>US$400 million<\/strong> through a share placement in Hong Kong. The funds are intended to advance the company&#39;s clinical research efforts in both China and the U.S., as well as expand the market reach of its cancer and hair-loss drug pipelines.<\/p>\n<p>Meanwhile, <strong>Fitch Ratings<\/strong> has indicated that Hong Kong&#39;s banking sector is well-positioned with solid capital to absorb ongoing asset quality pressures stemming from local commercial real estate (CRE) exposure. These pressures are expected to persist into <strong>2026<\/strong> due to <em>weak demand<\/em> for office and retail properties and rising vacancy rates. Some banks, such as <strong>Bank of East Asia (BEA)<\/strong>, have already seen their impaired loan ratio for Hong Kong CRE climb to approximately <strong>7.5%<\/strong> from <strong>6%<\/strong> at the end of 2024.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bond_Markets_and_Currencies_Show_Mixed_Movements\"><\/span>Bond Markets and Currencies Show Mixed Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The 10-year Japanese Government Bond (JGB) yield decreased to <strong>1.860%<\/strong>, down <strong>1.5 basis points<\/strong>. This follows a period where the yield had held steady at <strong>1.88%<\/strong> on December 2, having risen <strong>0.22 points<\/strong> over the past month. The <strong>USD\/JPY<\/strong> currency pair reacted by gaining <strong>0.1%<\/strong>, reaching <strong>155.61<\/strong>, after Japan&#39;s 10-year bond sale.<\/p>\n<p>In India, the 10-year benchmark government bond yield registered at <strong>6.5783%<\/strong>, a slight increase from its previous close of <strong>6.5732%<\/strong>. Concurrently, the <strong>Indian Rupee<\/strong> opened at <strong>89.70<\/strong> against the U.S. Dollar, marking a depreciation from its previous close of <strong>89.54<\/strong>. This follows a period in late November when the Rupee had strengthened to <strong>89.07<\/strong> against the U.S. Dollar, after intervention by the Reserve Bank of India (RBI) to stabilize the markets and prevent rapid depreciation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways West Texas Intermediate (WTI) crude oil declined below $59.50, trading around $59.25, amidst a prevailing bearish outlook driven 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