A look at the day ahead in European and global markets from

Gregor Stuart Hunter

It turns out Nvidia's ( NVDA ) earnings could only smother the blaze on

markets for so long.

Stock markets are tumbling again after a renewed selloff in tech

shares on Wall Street on Thursday, and even though there were

some signs of dip-buyers creeping back into equities, investor

confidence remains shot to pieces.

Anxious traders are on alert on Friday after explicit threats

from Japanese Finance Minister Satsuki Katayama that

intervention in FX markets could be imminent. That preceded the

long-awaited announcement of a lavish $135 billion stimulus from

the Takaichi administration that pummelled Japanese government

bonds and the yen.

Adding to the pressure on the Bank of Japan, data released on

Friday showed core inflation accelerated in October, rising 3.0%

from a year earlier, firmly above the central bank's 2% target.

As panic gripped markets, the yen strengthened 0.2% against the

dollar to 157.19 yen on the intervention talk and investor

demand for safe havens, while the Nikkei fell 2.4%,

taking its loss for the week to 3.5%.

MSCI's broadest index of Asia-Pacific shares outside Japan

tumbled 2.5% to bring its weekly loss to 3.7%,

the biggest since the Liberation Day tariff turmoil in early

April.

European markets look set to join the selloff in early trading.

Pan-region Euro Stoxx 50 futures and German DAX futures

fell 1.4% apiece and FTSE futures were off 1%.

In commodities markets, oil prices fell for a third consecutive

session on hopes that a peace deal between Russia and Ukraine

could be near. Brent crude fell 1.3% to $62.54 per

barrel. Gold was trading 0.7% lower at $4,059.27 per

ounce.

And in another sign of distress, a fire broke out at the venue

hosting the COP30 summit in Brazil, disrupting talks and

triggering an evacuation just as negotiators were hunkering down

to try to land a deal to strengthen international climate

efforts.

U.S. stock futures showed some sign of a rebound, but were

still far below recent highs. S&P 500 e-mini futures were

last up 0.4%.

Key developments that could influence markets on Friday:

Economic data:

UK: Public sector net borrowing ex-banks and retail sales

for October, Flash PMI for November

France: Business Climate Manufacturing and HCOB Flash PMI

for November

Germany: HCOB Flash PMI for November

Euro zone: HCOB Flash PMI for November

Debt auctions:

UK: 1-month, 3-month and 6-month government debt