BBVA Chairman Carlos Torres said he intends to stay on despite the collapse of the bank’s takeover bid for Sabadell, signaling continuity at Spain’s second-largest lender after weeks of uncertainty.
Gold extended its record-breaking rally, rising another 1.8% to $4,380 an ounce, bringing its weekly gain close to 10%. The surge reflects mounting investor demand for safe-haven assets amid growing global instability.
Geopolitical tensions remain in focus after Donald Trump and Vladimir Putin agreed to meet in Budapest following a two-hour phone call — a development watched closely by markets amid rising East-West frictions.
The IMF warned of significant downside risks to global growth if the U.S.-China trade dispute continues, adding to investor caution.
Meanwhile, the U.S. dollar is heading for its worst week since June, weighed down by expectations of Fed rate cuts as the labor market shows further signs of softening.
Concerns about the health of regional U.S. banks have triggered a second straight day of equity losses. The global selloff looks set to continue, with both European stocks and U.S. futures down between 1% and 2% in early trading.