Evening digest: global markets wobble, gold spikes, Beijing challenges Dutch chip takeover
Global trade tensions, shifting markets, and geopolitical pressure are driving today’s biggest stories.
The US has extended key China tariff exclusions in a bid to stabilize relations, while global markets remain unsettled as investors parse every signal from the Federal Reserve.
Gold is climbing on rising expectations of a December rate cut, and Beijing is pushing back hard against the Netherlands over control of semiconductor firm Nexperia.
A quick look at the major developments shaping the evening.
US extends China tariff exclusions
The US has decided to extend certain tariff exclusions tied to its investigation into China’s tech transfer and intellectual property practices, giving them a new expiration date of November 2026.
These exclusions were supposed to end later this month, so this is a pretty significant reset.
The move lines up with the major trade and economic agreement announced on November 1, 2025, after talks between President Trump and President Xi.
By keeping these exclusions in place a bit longer, Washington is trying to cool down trade tensions while still pushing China on long-standing issues like forced technology transfer.
According to the US Trade Representative’s office, this extension is part of a bigger strategy to rebalance the trade relationship, easing friction where possible, but without backing away from core concerns.
Global markets turn cautious
Global markets have been a bit all over the place lately. Asian stocks were mixed, mostly because investors are feeling cautious and trying to figure out what the US Federal Reserve is planning next.
Every new piece of economic data or hint about monetary policy seems to shake things up, influencing everything from currencies to commodity prices.
China is also playing a big role here; its economic outlook and recent policy moves are affecting how markets behave across the region.
On top of that, people are still on edge about global inflation and whether US interest rates will change, since both can impact risk-taking and where money flows.
Overall, there’s this underlying worry about where markets are headed, how companies will perform, and how ongoing geopolitical tensions might play into all of this.
And naturally, those concerns are shaping trading activity and the strategies investors are using right now.
Gold surges on Fed cut bets
Gold prices just hit their highest level in almost two weeks, thanks to growing expectations that the Federal Reserve might cut interest rates in December.
Spot gold jumped 0.8% to $4,161.10 an ounce, the strongest it’s been since November 14.
The boost comes after softer US economic data, especially weaker retail sales, which have led investors to believe there’s now an 84% chance the Fed will ease policy next month.
Lower interest rates typically make gold more attractive since the metal doesn’t pay interest, so when borrowing costs fall, gold suddenly looks like a much better safe-haven option.
Adding to the bullish mood, Deutsche Bank has raised its 2026 gold forecast to $4,450 an ounce, pointing to steady demand from investors and continued buying by central banks.
China presses Netherlands on Nexperia
China is once again pushing the Netherlands to reverse its September 30 takeover of Nexperia, the Dutch semiconductor company that has Chinese ownership.
In a video call with EU Trade Commissioner Maros Sefcovic, China’s Commerce Minister Wang Wentao made it clear that Beijing strongly opposes the Dutch government’s move, as well as the court ruling that stripped Chinese firm Wingtech of control over Nexperia.
Even though the Dutch government paused its intervention last week, China says that’s not enough. It wants the decision completely rolled back, not just temporarily halted.
This whole standoff highlights the growing friction over tech sovereignty and control of critical semiconductor assets.
It’s another reminder of how geopolitics, national security concerns, and competition for tech dominance are increasingly shaping decisions in the chip industry.
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