US equities ended lower on Tuesday as investors grappled with downbeat economic data, rising trade tensions, and mixed corporate earnings. The S&P 500 dropped 0.5%, the Nasdaq slid 0.7%, and the Dow slipped by 62 points, following Monday's sharp rebound from Friday's losses tied to a disappointing jobs report. Concerns about stagflation resurfaced after the ISM Services index showed activity had stalled in July. Meanwhile, President Trump's threats of steep tariffs up to 250% on pharmaceutical imports alongside potential levies on semiconductors, added to market unease amid ongoing...
Japanese stocks opened lower on Wednesday (August 6th), following a decline in the US market after weak US services sector data sparked uncertainty over the Federal Reserve's policy direction. The Nikkei 225 index fell 119.08 points, or 0.3%, to 40,430.46 in early trading. Meanwhile, recent data showed Japanese workers recorded the fastest nominal wage growth in four months, reinforcing expectations that the Bank of Japan (BoJ) may soon raise interest rates. Government data showed nominal wages rose 2.5% year-on-year in June, a sharp increase from a revised 1.4% in May. The market is also...
Hong Kong stocks fell 50 points, or 0.2%, to 24,851 in Wednesday morning trading, ending a two-day winning streak amid weakness in the technology, consumer discretionary, and financial sectors. Sentiment worsened after Wall Street closed lower overnight, as weak US data underscored the economic impact of tariffs on activity and earnings. Risk appetite was further dented by reports that two Chinese nationals were arrested in California for allegedly smuggling AI chips, including the Nvidia H100, to China. Caution also grew ahead of China's July trade data and inflation report, with lingering...