Financial markets refer to the institutions and systems that facilitate the buying, selling, and trading of financial instruments such as stocks, bonds, commodities, derivatives, currencies, and other securities. These markets provide a platform for investors to buy or sell assets, raise capital, hedge risk, and make profits through speculation. Financial markets are complex systems that operate based on supply and demand, economic indicators, and global events. They play a crucial role in the growth of businesses, economies, and societies by providing access to capital for investment and development.