Financial Markets Jitter as Gold and Stocks Slide Amid Geopolitical Tensions

Gold prices saw a significant decline, as did major stock indexes, following a recent sharp drop. Netflix shares fell amid disappointing outlook. The U.S. is considering software export restrictions to China. Investors prepare for key earnings and rate meetings while geopolitical tensions and market volatility persist.

Financial markets experienced notable turbulence on Wednesday with a sharp decline in gold prices and a general downturn in major stock indexes. Gold, which has been one of the best-performing assets this year, fell by 1.49% as investors secured profits after a long rally.

Netflix shares dipped by about 10%, contributing to a broader fall in Wall Street's major indexes. As investors awaited earnings announcements from Tesla and other major tech stocks, the broader economic outlook was hampered by lingering trade concerns and geopolitical tensions.

The U.S. government contemplates sanctioning a range of software exports to China in response to recent trade challenges. Amid these pressures, the Federal Reserve and the Bank of Japan contemplate their next moves as financial uncertainties continue to loom.

(With inputs from agencies.)