World shares are mixed after Wall St sets a record, while gold and
silver fly higher
[January 28, 2026] By
ELAINE KURTENBACH
European shares were lower after a mixed day in Asia, while the prices
of gold and silver soared higher ahead of an interest rate decision by
the U.S. Federal Reserve.
Later Wednesday, the U.S. central bank was due to announce its latest
move on interest rates. The expectation is that it will hold its main
interest rate steady for now.
Germany's DAX lost 0.2% to 24,837.57, while the CAC 40 in Paris sank
1.1% to 8,065.62. Britain's FTSE 100 slipped 0.2% to 10,188.28.
The future for the S&P 500 gained 0.3% while that for the Dow Jones
Industrial Average was nearly unchanged.
In Asian trading, South Korea’s benchmark hit a record, lifted by gains
for technology shares like computer chip maker SK Hynix, which climbed
5.1%. The Kospi gained 1.7% to 5,170.81.
Tokyo's Nikkei 225 index clawed back early losses to edge less than 0.1%
higher, closing at 53,358.71. Energy and technology giant SoftBank Group
Corp. helped lift the benchmark, gaining 3.7%, following reports it
plans to invest more in OpenAI.
The dollar rebounded slightly against the Japanese yen but has still
weakened sharply since last week, putting pressure on shares of major
exporters.
The dollar was trading at 152.68 yen, up from 152.19 yen. But it's
nearly 4% lower than its level last week, when it surged to near 160
yen, prompting both Japanese and U.S. officials to warn they would
intervene to stanch the yen's decline.
The euro slipped to $1.1983 from $1.2041 late Monday. It also has surged
against the dollar.
An index measuring the U.S. dollar’s strength against several of its
competitors has dropped to its lowest point since 2022.
The price of gold jumped 3.9% to $5,279.30, and silver’s price jumped
6.7%, to $112.69.
Prices of precious metals have been soaring as investors, including
major central banks, have sold dollars to park their money in assets
considered to be relatively safe in times of turmoil.
Elsewhere in Asia, Hong Kong's Hang Seng index rose 2.6% to 27,826.91,
while the Shanghai Composite index added 0.3% to 4,151.24.
Taiwan's Taiex advanced 1.5%, while the Sensex in India gained 0.3%.
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A person walks in front of an electronic stock board showing Japan's
Nikkei index at a securities firm Wednesday, Jan. 28, 2026, in
Tokyo. (AP Photo/Eugene Hoshiko)
 On Tuesday, U.S. stocks zigzagged
following mixed profit reports from UnitedHealth, General Motors and
other big companies.
The S&P 500 rose 0.4% to 6,978.60, edging past its prior all-time
high set a couple weeks ago. The Dow fell 0.8% to 49,003.41, and the
Nasdaq composite climbed 0.9% to 23,817.10.
Several of Wall Street’s most influential stocks will deliver their
latest earnings reports later this week. They include Meta
Platforms, Microsoft and Tesla on Wednesday and Apple on Thursday.
The dollar has weakened since President Donald Trump threatened
tariffs against several European countries that he said opposed his
taking control of Greenland. Such threats, along with worries about
risks like the U.S. government’s heavy debt, have periodically
pushed global investors to step back from U.S. markets, a move
that’s come to be called “Sell America.”
A report from the Conference Board said confidence weakened among
U.S. consumers last month. Economists had expected to see a slight
improvement, but confidence dropped to its lowest level since 2014,
even lower than it was during the COVID-19 pandemic.
Inflation remains stubbornly above the Fed’s 2% target, and lower
interest rates could worsen increases in prices for U.S. consumers
at the same time that they give the economy a boost. Traders expect
the Fed to resume its cuts to interest rates later this year.
The pressure is on companies to deliver strong growth in profits
following record-setting runs for their stock prices. Stock prices
tend to follow the path of corporate profits over the long term, and
earnings need to rise to quiet criticism that they've grown too
expensive.
In other dealings early Wednesday, U.S. benchmark crude oil rose 1
cent to $62.40 per barrel. Brent crude, the international standard,
gave up 9 cents to $66.50 per barrel.
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