Wall Street climbed on Tuesday, led by gains in tech and healthcare. Nvidia surged ahead of its earnings, boosting optimism that strong results could sustain the rally due to its S&P 500 weight and role in the AI boom. Eli Lilly also jumped after its experimental diabetes drug showed significant weight-loss benefits. These gains offset declines in energy and consumer staples, though markets remained cautious as President Trump’s removal of Federal Reserve (Fed) Governor Lisa Cook raised concerns about central bank independence.

European stocks closed lower, with the STOXX 50 down 1.10%. France led the decline as political turmoil intensified after Prime Minister François Bayrou called a confidence vote on 8 September that could topple his government. The CAC 40 slipped 1.60%, weighing on regional benchmarks, while London’s FTSE 100 fell 0.60% on its first day back from a holiday. Opposition parties—including the far-right National Rally, France Unbowed, and the Greens—have pledged to vote against Bayrou, leaving his administration on shaky ground. Broader sentiment across Europe remains fragile amid weak growth and persistent geopolitical risks.

Chinese stocks ended mixed on Tuesday, with the Shanghai Composite Index down 0.39% at 3 868 points and the Shenzhen Component up 0.26% at 12 473. Renewed trade tensions weighed on sentiment after Trump threatened to impose “200% tariffs or something” on rare-earth magnet exports from China. Still, equities have rallied sharply this month, with the Shanghai Composite touching its highest level since 2015. Analysts attribute the momentum partly to China’s 160 trillion yuan in household savings shifting from real estate into equities, particularly in technology-driven sectors such as semiconductors and renewables.

South African markets slipped, with the FTSE/JSE All Share Index closing at 102 433.16 points, down 0.53% amid global risk-off sentiment. The rand eased to around R17.61 against the US dollar from a nine-month high on 22 August as investors booked profits, though it was supported by rising gold prices and a softer dollar. Expectations of US rate cuts also helped, narrowing the yield gap with South Africa and making local assets more attractive.

Commodity markets were mixed, with gold climbing to a two-week high of $3 388.60 per ounce as investors sought safe-haven assets amid concerns over the Fed’s independence following President Trump’s dismissal of Governor Lisa Cook and expectations of future rate cuts. Crude oil, however, fell 2.40% to around $63 per barrel, pressured by weaker risk sentiment, though prices remained within the $62–$65 range seen throughout the month.