US stocks slumped on Friday after Donald Trump escalated trade tensions by threatening tariffs on Apple and the European Union. The S&P 500 fell 0.6%, the Nasdaq 100 dropped 0.9% and the Dow dropped 256 points. Apple shares plunged 3%, pushing its valuation below $3 trillion, after Trump demanded that iPhones sold in the US be made domestically or face 25% tariffs. He also proposed a 50% tariff on all EU imports starting June 1 as trade talks stalled, renewing concerns about protectionist policies. Technology stocks led the decline, with names such as Micron, Qualcomm and Nvidia...
The Nikkei 225 Index rose 0.5% to around 37,350 while the broader Topix Index added 0.3% to 2,744 on Monday, extending gains from the previous session as market sentiment was buoyed by US President Donald Trump's decision to delay the implementation of 50% tariffs on the EU. A retreat in the safe-haven yen also supported Japanese shares by easing currency-related pressure on exporters. Meanwhile, investors continued to monitor the Bank of Japan's policy outlook, with expectations growing that the central bank will raise interest rates further in response to persistent inflation. Industrial...
Asia-Pacific markets traded mixed Friday as investors assess a slew of economic data from the region. Japan's benchmark Nikkei 225 rose 0.47% to close at 37,160.47 and the Topix climbed 0.68% to close at 2,735.52. South Korea's Kospi traded flat to close at 2,592.09 while the small-cap Kosdaq was down 0.24% to end the trading day at 715.98. Australia's benchmark S&P/ASX 200 was up 0.15% to close at 8,360.9. Hong Kong's Hang Seng index and mainland China's CSI 300 traded flat. The U.S. and China agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma...