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0.300%
Gold
5161.80
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65.545
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154.280
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Real-time News
South Koreas upcoming local elections entered their 100-day countdown on February 22, with political parties intensifying their preparations to garner voter support. This election is considered the first major test since President Lee Jae-myung took office, and the success of his ruling Democratic Party is a key focus of international attention. South Koreas local elections are held every four years, electing leaders of provincial, special city, metropolitan city, city, county, and district governments, as well as education supervisors, education councilors, and local councilors at various levels of local autonomy. The new local elections are scheduled for June 3, coinciding with by-elections for members of the National Assembly. According to regulations, public officials running for office must resign by March 5, while members of the National Assembly must resign by May 4.The EU will hold an emergency meeting on the 23rd to reassess the trade agreement reached between the EU and the US in 2025. The European Parliaments International Trade Committee was originally scheduled to meet on the 24th to vote on legislative proposals to advance the ratification of the trade agreement.A spokesperson for the Ministry of Commerce stated: We have noted the ruling of the U.S. Supreme Court in the tariff lawsuit and are conducting a comprehensive assessment of its content and impact. China has consistently opposed all forms of unilateral tariff increases and has repeatedly emphasized that there are no winners in a trade war, and protectionism leads nowhere. The U.S.s unilateral measures, such as reciprocal tariffs and fentanyl tariffs, violate both international trade rules and U.S. domestic law, and are not in the interests of any party. Facts have repeatedly proven that cooperation between China and the U.S. benefits both sides, while confrontation harms both. China urges the U.S. to cancel its unilateral tariffs on its trading partners. We have also noted that the U.S. is preparing alternative measures, such as trade investigations, in an attempt to maintain tariffs on its trading partners. China will closely monitor this and firmly safeguard its interests.Nasdaq futures extended their losses to 1%, S&P 500 futures are currently down 0.75%, and Dow futures are down 0.6%.Goldman Sachs: Potential easing of sanctions on Iran/Russia will accelerate the increase in crude oil inventories and release more supply in the long term, with crude oil prices expected to have a downside of 5% to 8% in the fourth quarter of 2026.