KOSPI Falls 1.29% to 7,178.03, Nasdaq Drops 0.84% to 25,870.71, and Brent Holds Above $110 Despite 0.40% Slip
Markets stayed cautious as higher U.S. yields, Iran-related oil risks, and weak equity sentiment weighed on investors. KOSPI and Wall Street declined, while commodities were mixed as gold slipped, silver gained, and Brent stayed above $110. In FX, dollar strength pressured major currencies.
Today's Snapshot
- KOSPI: 7,178.03 (-1.29%)
- Nasdaq Composite: 25,870.71 (-0.84%)
- S&P 500: 7,353.61 (-0.67%)
- Gold: $4,472.50 (-0.21%)
- Silver: $74.2550 (+0.75%)
- Brent Crude: $110.88/bbl (-0.40%)
Note: Data and market levels are as of 06:30 UTC, May 20, 2026, subject to live market fluctuations.
Global Markets
(A) Precious Metals
Gold: $4,472.50 (-0.21%)
Gold fell 0.21% as higher U.S. Treasury yields and a firmer dollar pressured demand. Since gold does not pay interest, higher yields made it less attractive, while dollar strength made it more expensive for overseas buyers.
Silver: $74.2550 (+0.75%)
Silver rose 0.75%, outperforming gold as traders bought after recent weakness. The move was supported by short-term recovery demand and silver’s industrial-use appeal.
However, gains were capped by higher U.S. yields and a stronger dollar, which kept pressure on precious metals overall.
(B) Energy
Brent Crude: $110.88/bbl (-0.40%)
Brent crude fell 0.40% after Trump’s comment about ending the Iran war “very quickly” reduced some immediate supply-risk premium.
Still, Brent stayed above $110/bbl because Middle East supply risks and Strait of Hormuz uncertainty continued to keep oil markets cautious.
(C) FX
Dollar Index: (+0.07%)
The U.S. dollar held firm near a six-week high, supported by higher U.S. Treasury yields, Fed rate-hike expectations, and Iran war uncertainty. Investors moved toward the dollar as a safer currency while oil-driven inflation fears pushed global yields higher.
USD/JPY: (+0.12%)
USD/JPY rose 0.12% as the wide U.S.-Japan yield gap continued to support the dollar and pressure the yen. The move kept traders alert for possible Japanese intervention, with analysts watching the 160-161 level closely.
GBP/USD: (-0.02%)
GBP/USD slipped 0.02% as broad dollar strength limited sterling demand. Higher U.S. yields and cautious market sentiment kept pressure on major G10 currencies, including the pound.
USD/INR: (+0.76%)
The rupee weakened to a record low near 96.96 per dollar as higher Brent crude prices, rising U.S. yields, and Fed rate-hike bets pressured emerging-market currencies. India was hit harder because it imports large amounts of oil, so higher crude prices raise inflation and balance-of-payments concerns.
Economic Calendar Today: Key U.S. Market Events
| Country | Release | Forecast | Previous | Time |
|---|---|---|---|---|
| US | MBA 30-Year Mortgage Rate | - | 6.46% | 15:00 |
| US | MBA Mortgage Applications (WoW) | - | 1.7% | 15:00 |
| US | MBA Purchase Index | - | 177.7 | 15:00 |
| US | Mortgage Refinance Index | - | 921.1 | 15:00 |
| US | Fed Vice Chair for Supervision Barr Speaks | - | - | 17:15 |
| US | Crude Oil Inventories | -2.500M | -4.306M | 18:30 |
| US | Cushing Crude Oil Inventories | - | -1.702M | 18:30 |
| US | Gasoline Inventories | - | -4.084M | 18:30 |
| US | Crude Oil Imports | - | -0.318M | 18:30 |
| US | EIA Weekly Refinery Utilization Rates (WoW) | - | 1.6% | 18:30 |
| US | EIA Weekly Distillates Stocks | - | 0.190M | 18:30 |
| US | FOMC Meeting Minutes | - | - | 23:00 |
Note: This update highlights selected economic calendar events for informational purposes only. Please conduct your own research before making any trading decisions.
Volatility
VIX closed around 18.06, indicating cautious market conditions.
What Traders Are Watching
- Nvidia earnings - Traders are watching Nvidia because its results could set the tone for AI and semiconductor stocks after recent tech-led weakness.
- Fed minutes - Markets are looking for signs that policymakers are becoming more concerned about inflation, oil prices, and the possibility of higher rates.
- Oil and Middle East risk - Brent above $110 keeps inflation concerns alive and can pressure equities, currencies, and bond markets if supply fears intensify.
“The stock market is a device for transferring money from the impatient to the patient.”
Yesterday’s Market News - May 18, 2026
Markets stayed cautious as higher oil prices, rising U.S. yields, and Middle East tensions weighed on risk sentiment. The Nasdaq dropped 1.54% and the S&P 500 fell 1.24%, while Brent crude rose 1.87% to $111.13/bbl on supply-risk concerns. Gold held slightly higher, silver slipped, and the dollar stayed supported as investors favoured safety and higher U.S. rates.
Read full recap →Sources
- Reuters - Global Markets - Stocks fall as US bond yields rise, oil eases after latest Iran comments
- Reuters - Commodities - Gold falls to 1-1/2-month low on higher US yields, firm dollar
- Reuters - Energy - Oil falls after Trump says US will end Iran war “very quickly”
- Reuters - Currencies - Dollar steady near six-week highs on rate-hike bets, war uncertainty
- Reuters - India Markets - Rupee tumbles to record low as US-Iran stalemate stokes global inflation fears
- Investing.com - Economic Calendar - U.S. events, FOMC minutes, crude oil inventories and MBA mortgage data
Disclaimer
This report is for informational purposes only and does not constitute investment advice, financial guidance, or a solicitation to buy or sell any financial instruments. Market data and figures are subject to change without notice. Data has been taken from sources we believe to be reliable; however, please conduct your own research before making any investment decisions. Trading leveraged or complex products carries significant risk; please ensure you understand the risks before trading.
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