ISTANBUL: The US Federal Reserve is expected to cut interest rates in December, following an anticipated reduction in September, with the European Central Bank (ECB) likely to follow suit during the same period. Meanwhile, the possibility of Donald Trump securing the presidency has increased following an assassination attempt during his speech on July 13. This scenario has reignited fears of trade wars, adding to selling pressure in Asian markets. In the US, Morgan Stanley reported a 41% increase in net profit for the second quarter of this year, while Bank of America's net profit fell by 6.7% during the same period. US markets saw modest gains on Tuesday, with the Nasdaq index rising 0.14%, the S and P 500 climbing 0.07%, and the Dow Jones increasing by 1.85%. The ECB is widely expected to leave its policy rate unchanged in its Thursday statement. The dollar index stands at 104.2, while Brent crude oil prices have stabilized at $83 per barrel. The US 10-year bond yield closed at a daily low of 4.17%, an d gold prices rose by 1.9% to $2,469 an ounce. In Europe, the FTSE 100 index in the UK fell 0.22%, France's CAC 40 index dropped 0.69%, Germany's DAX 40 index decreased 0.39%, and Italy's MIB 30 index edged down 0.02% on Tuesday. European index futures opened the day mixed. In Trkiye, the BIST 100 index in Borsa Istanbul closed at 11,188.12 points, up 0.67% from the previous close. The USD/TRY exchange rate traded at 33.0551 at the opening of the interbank market on Tuesday. Asian equity markets, with the exception of Hong Kong, experienced a selloff due to ongoing concerns about a potential trade war between China and the US. Near the close, Japan's Nikkei 225 index fell 0.2%, South Korea's Kospi index lost 0.7%, and China's Shanghai index dropped 0.2%, while Hong Kong's Hang Seng composite index gained 0.3%. Source: Anadolu Agency