Good morning, you're listening to Markets Desk.
Asian markets are trading in mixed territory this Thursday after Wall Street posted broad losses overnight. Tumbling crude oil prices hit energy stocks hard, while fresh concerns around artificial intelligence valuations dragged technology names lower. The Australian benchmark S&P ASX two hundred extended its losing streak into a third session, slipping well below the eight thousand seven hundred fifty level by mid-session.
Turning to Washington, the Trump administration has confirmed it will not renew the United States Mexico Canada Agreement in its current form, formally opening the door to renegotiation with both neighbors. A senior administration official cited America's trade deficits with Canada and Mexico as the president's primary concern, signaling that tariff and market access terms are squarely back on the table.
And Meta Platforms was a standout mover on Wall Street, with shares surging after Mark Zuckerberg outlined a concrete plan to monetize the company's vast data center infrastructure. Investors have been watching closely for clarity on how Meta converts its heavy artificial intelligence capital spending into revenue, and today's update appeared to deliver enough of an answer to move the stock meaningfully higher.
That's the tape. Markets Desk, signing off the floor.
