Stocks' momentum fades, gold plunges

Gold fell 6% on Tuesday, its largest decline since August 2020 and second biggest since 2013. After such a steep ascent - its year-to-date gain last week was almost 70% - the inevitable question now is: correction, or crash?That may reflect over-confidence, or complacency. The mood at the IMF/World Bank meetings in Washington last week was far less upbeat, with the recent escalation around rare earths and 100% tariffs marking a new and worrying phase. Markets are priced for significant de-escalation, and if ...