Investing.com – Top 5 things that rocked U.S. markets this week.
Brexit officially kicked off
Wednesday, March 29, was an historic day, as the UK triggered Article 50, which starts the legal process by which Britain will leave the European Union (EU).
The dollar halted a 3-week losing streak
The dollar recovered against a basket of major currencies on Friday, and delivered its best weekly performance since mid-February, buoyed by a flurry of bullish comments from several Federal Reserve officials over the past week.
U.S. crude futures slid nearly 6% in Q1
Crude prices settled above the key $50-level on Friday but ended the quarter in negative territory, down 5.8%, as traders questioned the sustainability of the OPEC-led production cut agreement.
Gold delivered best quarter in a year
Gold prices gained 8% in the first quarter of this year, after a less hawkish than expected Federal Reserve statement concerning the pace of rate hikes and uncertainty over the outcome of the European elections supported upside momentum in the yellow metal, which is considered a safe-haven asset.
Tesla closed 3% higher for the week
Tesla (NASDAQ:TSLA) (NASDAQ:TSLA) Inc. closed nearly 3% higher for the week, after the California-based electric carmaker said on Tuesday, Chinese giant Tencent acquired a 5% stake for $1.78 billion.