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investingLive Americas FX news wrap 22 Oct. Concerns about Russia & China weigh on markets | investingLive

U.S. stocks declined on Wednesday as geopolitical and trade tensions continued to weigh on investor sentiment. Concerns over both the Russia-Ukraine conflict and the escalating U.S.–China trade war have started to wear down the investing public, leading to another risk-off session.

The U.S. administration is reportedly preparing to expand sanctions on Russia, with measures expected to be announced either later today or early Thursday. At the same time, President Trump has threatened new restrictions on exports to China involving U.S. software and other high-value technologies, along with tariffs of up to 155% on Chinese imports—effectively amounting to a trade embargo set to take effect November 1.

In parallel, Treasury Secretary Bessent is traveling to Malaysia for preliminary talks with Chinese officials, ahead of a planned meeting between President Trump and Chinese President Xi in South Korea. Both sides appear to be intensifying economic pressure as they jockey for leverage ahead of the negotiations.

Stock Market Performance

U.S. equities finished broadly lower:

European markets were mixed:

  • Germany DAX: −0.74%

  • France CAC 40: −0.63%

  • Italy FTSE MIB: −1.03%

  • UK FTSE 100: +0.93%

  • Spain Ibex 35: +0.09%

Currency & Bond Markets

The U.S. dollar ended the day little changed versus the major currencies. The largest move came against the Canadian dollar, where the greenback slipped −0.25%. Other major pairs closed within ±0.09% of unchanged after a choppy session.

U.S. Treasury yields edged slightly lower:

  • 2-year: 3.446% (−0.0 bps)

  • 10-year: 3.953% (−1.0 bps)

  • 30-year: 4.535% (−1.3 bps)

The U.S. Treasury’s $13 billion auction of 20-year bonds drew solid domestic demand, clearing with a negative tail of −1.2 bps—a sign of healthy investor appetite.

Commodities

Gold fell for the second straight day, briefly dipping near the $4,000 mark before recovering. The metal traded down $21 (−0.51%) at $4,102.15, after touching a low of $4,004.40.

Silver also weakened, slipping $0.16 (−0.31%) to $48.49, after rebounding from a low of $47.56.

In energy markets, EIA data showed a surprise drawdown of 0.961 million barrels, compared with expectations for a 1.205 million-barrel build. Supporting prices further, U.S. Energy Secretary Wright confirmed that the government will purchase oil for the Strategic Petroleum Reserve (SPR) and added that oil remains an attractive buy at current levels.