Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Asia-Pacific markets fell Friday after U.S. President Donald Trump announced fresh tariffs on furniture, heavy trucks and pharmaceutical products. Starting from Oct. 1, kitchen cabinets, bathroom vanities and associated products will face a 50% tariff, while a 30% tariff will be charged for upholstered furniture, Trump said on Truth Social early Friday. Additionally, heavy trucks will be imposed a 25% levy. Meanwhile "any branded or patented Pharmaceutical Product" faces 100% duties, except for companies that build drug manufacturing plants in the U.S., Trump added. Overnight in the U.S.,...
The Japanese stock market is poised to weaken on Friday due to uncertainty over the impact of US tariffs on corporate profits. Nikkei futures on the SGX fell 0.3% to 45,330, signaling pressure on the Japanese stock market.However, the weakening yen provided some support. The USD/JPY exchange rate stood at 149.85, higher than Thursday's close of 148.83. A weaker yen typically benefits Japanese exporters by increasing the competitiveness of their products in the global market. Investors are now focused on developments in the ruling Liberal Democratic Party (LDP) leadership election. The...
US stocks weakened for a third session on Thursday, as investors weighed strong economic data against expectations of future Fed rate cuts. The S&P 500 and Nasdaq 100 each fell 0.5%, the Dow Jones Industrial Average fell 175 points, with all sectors except energy in negative territory. Initial jobless claims fell to 218,000 for the week ending September 20, signaling a resilient labor market, while second-quarter GDP growth was revised up sharply to 3.8% annualized, driven by strong consumer spending and business investment. Market participants are now recalibrating expectations for the...
European stocks closed sharply lower on Thursday, tracking declines in major equity markets amid concerns about rising global interest rates and new trade barriers with the United States. The Eurozone STOXX 50 fell 0.6% to 5,435, and the pan-European STOXX 600 fell 0.7% to 550. European yields rose sharply after strong US economic data dampened speculation of two more Federal Reserve rate cuts this year, pressuring credit-sensitive sectors, with Ferrari, Adidas, Stellantis, and Saint-Gobain all down more than 2%. Meanwhile, shares of biotechnology companies plunged after US authorities...
Stocks fell again on Thursday, bogged down by a further pullback in Oracle and Nvidia, as well as a jump in rates. The S&P 500 dropped 0.6%, while the Nasdaq Composite lost 0.9%. The Dow Jones Industrial Average shed 116 points, or 0.3%. Oracle and Nvidia saw more losses in the premarket, sliding nearly 4% and 1%, respectively. The two were on track to fall for a third straight day as questions over the state of the artificial intelligence trade lingered. The market action appears to be reflecting concerns about record-high valuations and potentially risky circular relationships in the...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...