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Gold, Silver Slump Sparks Domino Effect in Stocks | Daybreak Europe 2/2/2026

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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, gold extended losses, after its biggest plunge in more than a decade on Friday, as silver also sank deeper, reversing a record-breaking rally that appeared to have run too far, too fast.

Technology stocks fell as concerns over stretched valuations and heavy investment in AI drove MSCI’s Asian tech gauge to its steepest decline since November.

Today’s guest: Josie Anderson, Nomura Economist

Chapters:
00:00:00 – Daybreak Europe – 2/2/2026
00:02:18 – Asia Tech Tumbles On AI Funding Fears
00:05:10 – AI Funding Fears Grow
00:06:58 – Gold, Silver Extend Declines
00:09:08 – Warsh Return Renews Tension On Fed’s Balance Sheet
00:14:02 – Oil Drops As Trump Says Talking with Iran
00:21:12 – Precious Metals Key to Energy Transition
00:25:42 – Front Page News
00:27:28 – Euro Rally Is Latest Risk to ECB’s Inflation Outlook
00:38:01 – Lockhart: Warsh Seen as Hawkish, but Data-Driven
00:41:10 – European Earnings Week Ahead
00:44:46 – Markets Price Kevin Warsh | Chart Talk
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Big Tech Rallies as Election Results Reshape AI Spending Outlook | Closing Bell

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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Vonnie Quinn, Carol Massar and Tim Stenovec.
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What Could Stand in the Way of India’s Growth Ambitions

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India is the world’s fastest-growing major economy. But higher interest rates, a weak rupee, foreign investor outflows and youth protests are testing its ambitions.

What’s next for India will come into focus at this year’s Bloomberg New Economy Forum in New Delhi.

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Why Capitalism Is Losing Young Americans

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Socialism was once widely seen as politically disqualifying in the United States, but democratic socialist candidates and ideas are gaining greater visibility, particularly among younger voters. Former House Speaker Paul Ryan and investor Steven Rattner argue that frustration over affordability, inequality and economic insecurity is making voters more receptive to alternatives to traditional free-market policies.
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Global Stock Selloff: AI Investment Will Continue, George Colony Says

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George Colony, Forrester Research Founder, Chairman & CEO says the AI boom may be entering a new phase. Custom chips could challenge Nvidia’s dominance, while value shifts toward software. But the transition won’t be smooth: companies must adapt to AI computing, or risk being left behind.
——–
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Stocks Waver Ahead of Fed Decision, Tech Earnings; Netanyahu Leads Over Eisenkot

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US equity futures struggle for direction ahead of the Federal Reserve’s rate decision. Investors await earnings from Microsoft and Alphabet after SK Hynix’s seven-fold profit surge. Oil rises following a report that the US may resume military strikes on Iran after the midterm elections. Prime Minister Netanyahu edges over opposition leader Gadi Eisenkot with more votes to be counted in a tight race in Israel. Andrew Hollenhorst of Citi joins “Bloomberg Brief” to look ahead to the Fed’s rate path beyond October’s decision.

Chapters:
00:00:00 – Bloomberg Brief
00:04:05 – Robinhood and Premarket Movers
00:05:19 – SK Hynix and AI Chip Demand
00:09:09 – European Bank Earnings
00:12:32 – US Iran Tensions Lift Oil
00:14:14 – Israel Election and Netanyahu
00:15:39 – Pakistan, Ukraine and Treasury Flows
00:20:41 – Global News Headlines
00:21:28 – Bloomberg Brief and FOMC Preview
00:24:31 – Andrew Hollenhorst, Citi Chief US Economist, on Fed Policy and AI
00:33:18 – Israel, UBS and Aston Martin
00:34:31 – US Iran and Russia Ukraine Outlook
00:38:27 – SK Hynix and Big Tech
00:42:34 – FOMC and Tech Earnings Ahead
——–
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