Stocks

Russia's ruble has surged about 45% against the dollar since early last year and recently traded near 78 per dollar, but that strength is emerging alongside a deepening budget squeeze. The government held its 2025 deficit at 2.6% of GDP by cutting December spending 19% as oil and gas income fell to a five‑year low and annual energy revenue dropped 24%, while sanctions and high rates forced the Finance Ministry to boost daily foreign‑exchange sales. Despite heavy intervention and tighter policy, economic growth likely slipped below 1%, and analysts expect the ruble could weaken again over the next year.

In its latest quarterly assessment released on Monday, the IMF increased its 2026 global growth forecast to 3.3% from 3.1%, while cautioning that higher tariffs and geopolitical frictions could hinder that expansion. The fund highlighted heavy investment in artificial intelligence and elevated equity valuations as key vulnerabilities, warning that even a moderate stock market decline could drag growth down to 2.9%. It also upgraded projections for the United States, China and India, and stressed that central banks should safeguard their independence and cut interest rates only when inflation expectations remain firmly anchored.

On 19 January 2026, market data from 2025 showed precious metals and major stock indices reaching strong performance levels, while cryptocurrencies underperformed. Gold, silver, copper and other industrial metals reflected firm economic demand, but Bitcoin and most altcoins failed to sustain early-year gains or revisit prior cycle peaks. The divergence suggests crypto behaved more like a growth-sensitive asset than a defensive hedge in an environment of uneven growth and tight financial conditions.

On January 19, 2026, participants at the World Economic Forum in Davos are facing renewed tensions as Donald Trump threatens new US import tariffs on several European countries if Greenland talks collapse. The plan includes a 10% levy from February, rising to 25% from June 1, pressuring the euro, the British pound, European stock futures and Bitcoin, which has slipped over 2% to $92,900. European political leaders have pushed back, calling the measures a mistake or economic blackmail, while investors reassess geopolitical risk amid rising gold prices.

On January 19, 2026, the Louisiana State Employees' Retirement System disclosed holding 17,900 shares of Strategy (MSTR), providing indirect exposure to Bitcoin. The position was valued at approximately $3.2 million, and the fund manages roughly $15.6 billion in assets.

Former Fed Governor Kevin Warsh has moved to the top of prediction markets for the chair position after recent comments by President Trump. Jerome Powell’s term ends on May 15, and the announcement of a successor is expected this month. Silver rose over 4% and gold gained 2% while markets weighed potential policy changes.

Over the weekend, President Donald Trump announced tariffs on eight European countries tied to Greenland, starting at 10% on February 1 and rising to 25% by June 1. Within 24 hours, crypto liquidations reached $875 million and Bitcoin slid about 3% to $92,000 as traders cut leveraged exposure.

On January 15, the China Securities Regulatory Commission outlined steps to curb speculation and, last week, lifted margin funding requirements on all mainland exchanges to 100% from 80%, with the change effective on Monday. The adjustment covers only new contracts and follows early‑2026 gains led by AI and space themes, with mainland tech shares trading about 40% above Nasdaq 100 peers.

On 19 January 2026, at 09:31, Washington's CLARITY Act stalled, a development some analysts frame as a constructive pause. Crypto analyst Michaël van de Poppe argues the draft risked locking in restrictive rules. Coinbase withdrew support, and CEO Brian Armstrong flagged tokenized equities, yield-bearing stablecoins, and DeFi user data access as unacceptable provisions.

Vanguard Group has reported, via regulatory filings, an approximately $505 million position in Strategy, a public company whose balance sheet is dominated by Bitcoin. The $12 trillion asset manager issued no formal announcement, opting to access Bitcoin's upside through listed equity rather than direct holdings.