Bloomberg Daybreak: Europe Edition Epstein Revelations Fallout, Gold Plunge Deepens, Mercedes Luxury Bet
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Feb 2, 2026 Will Wilkes, German automotive reporter, on Mercedes’ reliance on the S‑Class to fund electrification amid Chinese competition and tight labor costs. Tiwa Adebayo, Bloomberg reporter, on the Jeffrey Epstein document release, its contents and UK fallout. They discuss market shocks to gold and silver, rising geopolitical tensions, and Rolls‑Royce’s halted lunar reactor plan.
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Precious Metals Rally Reverses Quickly
- Gold and silver plunged sharply after a rapid rally, reversing hefty gains.
- The sell-off followed Kevin Warsh's Fed nomination, which strengthened the dollar and undercut weak-currency bets.
UK Seeks Access To EU Defence Fund
- Keir Starmer still wants the UK to join the EU's €150bn defence fund despite past negotiation failures.
- Joining SAFE would let British defence firms bid for large EU-funded contracts if a deal is reached.
Tensions With Iran Raise Regional Risk
- Iran warned of regional war amid escalating tensions as the US signals readiness to act.
- Oil prices eased after disclosures of US-Iran talks reduced geopolitical risk premiums.