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Wall Street Futures Climb on Fed Cut Hopes as Bitcoin Extends Steep Decline

US markets staged a rebound Friday morning, with futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq all moving higher after a turbulent week. The rally was fueled by growing bets that the Federal Reserve could cut interest rates at its upcoming December meeting, following dovish comments from New York Fed President John Williams. His remarks shifted sentiment sharply, with nearly 70% of traders now expecting a rate cut. Dow futures gained 0.7% , leading the advance. S&P 500 futures rose 0.5% , while Nasdaq futures added 0.4% . The optimism comes after Thursday’s sharp sell-off, underscoring the volatility gripping markets as investors weigh AI-driven risks and Fed policy divisions. Meanwhile, cryptocurrencies continued to struggle. Bitcoin plunged to around $82,000 , marking its worst month since the 2022 crypto collapse. The decline reflects heavy institutional outflows, miner sell-offs, and broader risk-off sentiment across digital assets.
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South Korean Parliament Impeaches President Yoon Over Martial Law Decree

 

In a historic move, South Korea's parliament voted to impeach President Yoon Suk Yeol following his controversial martial law decree on December 3rd. The National Assembly passed the motion with a significant majority, 204-85. This decision came after Yoon's short-lived martial law order, which lasted only six hours before being unanimously overturned by parliament.

The impeachment motion was driven by allegations of rebellion and a violation of the constitution, as Yoon's decree was seen as an attempt to undermine democratic processes. Prime Minister Han Duck-soo will assume presidential duties while the Constitutional Court reviews the impeachment, a process that could take up to 180 days.

The impeachment has sparked widespread public reaction, with jubilant crowds celebrating outside the National Assembly. President Yoon, in a statement, vowed to continue serving the country despite the temporary suspension of his powers.


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