A sharp risk-off tone ran through the London session, led by a 4.17% slide in the Nikkei 225 to 66,048.34 and a matching 4% drop in silver.

The two biggest losses on the board came from opposite corners β€” Japanese equities and precious metals β€” leaving little for buyers to lean on outside crude and a few crypto names.

Metals

Silver led the metals retreat, down 4% to $63.31, trimming its weekly move to -3.02% though it still holds a 12.38% monthly gain and a 69.5% rise over the year.

Platinum fell 3.74% to $1,714.63 and palladium dropped 3.43% to $1,285.02, the latter now down 6.22% on the week.

Gold joined the move lower, off 2.08% to $4,333.57. Even after the pullback it sits 8.08% higher on the month and 30.76% over the year.

Indices

The Nikkei’s 4.17% fall dwarfed the rest, and it now shows -3.36% on the week β€” though it remains up 52.79% over twelve months.

Wall Street’s tech complex was the other soft spot: the Nasdaq 100 shed 1.79% to 29,467.66 and the S&P 500 fell 0.72% to 7,691.85. The Dow held up better at -0.24%.

Europe closed broadly lower. The Euro Stoxx 50 fell 0.76% to 6,475.98, the CAC 40 dropped 0.71% and the DAX 40 eased 0.62% to 26,142.8. The FTSE 100 was near flat at -0.05%, while the Hang Seng bucked the trend with a 0.08% gain.

Currencies

Moves in FX were muted against the equity and metals turbulence. The dollar firmed modestly, with USD/JPY up 0.17% to 159.60 and USD/CHF up 0.16%.

The antipodeans lagged: NZD/USD fell 0.55% to 0.58718 and AUD/USD slipped 0.34% to 0.70831. EUR/NZD rose 0.38% to 1.96859, among the day’s larger FX gainers.

The rand outperformed, with USD/ZAR down 0.50% to 16.137 and off 2.19% on the month.

Energy and crypto

Crude was a rare bright spot. Brent rose 0.42% to $89.87 and WTI added 0.35% to $84.35, both up more than 3% on the week.

In crypto, Solana climbed 1.25% to $76.84 while Bitcoin was near flat at $64,577.59. Stellar was the laggard, down 2.61% to $0.15364 and off 18.34% on the month.

The precious-metals complex remains the session’s clear weak spot as the London day closes.