🌅 Morning Update | 22.05.2025 📉 Wall Street Tumbles Weak demand for U.S. Treasury bonds sent stocks sharply lower: 📊 S&P 500: -1.6% | Dow Jones: -1.9% | Nasdaq: -1.4% | Russell 2000: -2.8% 📈 30-year bond yields jumped 10+ bps on deficit worries and deadlock over Trump’s tax bill. 🏛️ Crypto Legislation Boosts Markets The U.S. Senate has unblocked debate on the stablecoin bill, triggering a rally: 🟠 Bitcoin: +2.9% ($111,370) 🟣 Ethereum: +4.9% ($2,632) 🐶 Dogecoin: +4.7% | 💠 Solana: +3.9% | 🔷 Polygon: +3.9% 🌏 Asia-Pacific in the Red U.S. pessimism spills over: 🇨🇳 HSCEI: -0.14% | 🇯🇵 Nikkei 225: -0.94% | 🇰🇷 Kospi: -1.17% | 🇦🇺 ASX 200: -0.44% 📈 Bitcoin-linked stocks are holding up better. 💻 Baidu Drops Despite Revenue Beat BIDU.US: -3% after Q1 report ✔️ AI cloud drives revenue above forecast ❌ Profit -20% YoY | ❌ Weak margins | ❌ Ad revenue underwhelms 🇦🇺 Australia’s PMI Mixed Services: 50.5 (⬇️ from 51) | Manufacturing: 51.7 (steady) 📉 Growth is slowing, optimism cooling. 🇯🇵 Japan PMI Slightly Up Manufacturing PMI: 49 (prev. 48.7) — still contraction territory. 💱 FX Market Calm 📊 USD Index flat 📈 JPY strongest G10: USDJPY -0.3% 📉 NZD weakest: NZDUSD -0.25% after GDP downgrade 📈 AUD rebounds: +0.2% | EURUSD inches up: +0.05% (1.335) 🥇 Precious Metals Edge Higher Gold: +0.6% ($3,333) | Silver: +0.66% ($33.60) 🔻 Platinum: -0.1% | Palladium: -0.3%