Tech sector led the equity sell-off on Friday, with Nvidia and Netflix slipping about 10% each. Fed’s pushback to easing and escalations in geopolitical tensions are testing the recent equity rally, and the next big test comes from Mag 7 earnings this week as Tesla, Meta, Microsoft and Alphabet report. Geopolitical risk premium is being eroded in crude oil for now, and Gold’s another failure at $2,400 could hint towards a short-term correction but base metals including Copper in a strong rally. In FX, gains in the dollar have been restrained despite several supporting factors, with focus on JPY as BOJ meets this week ... (full story)