Wall Street's main indexes fell on Tuesday, with the tech-heavy Nasdaq on course to confirm a correction, as investors feared that an escalating trade war between the U.S. and its partners could damage the country's economy.The Nasdaq Composite index was on track to fall into correction territory, having fallen 10% from its record closing high on December 16.Financials weighed on all the three indexes and those on the S&P 500 led sectoral declines with a 3.6% drop.Wall Street's biggest banks such as Citigroup (NYSE:C) and JPMorgan Chase & Co (NYSE:JPM) fell 7.4% and 4.8%,...
The Dow Jones Industrial Average (DJIA) tumbled 700 points at its lowest on Tuesday as investor sentiment hits the floorboards. After the initial sticker shock on new import taxes, markets recovered some footing, but the Dow Jones remains down around 550 points.United States (US) President Donald Trump has kicked off his second, bigger global trade war by imposing a stiff 25% tariff on all imported goods from Canada and Mexico, as well as adding on an additional 10% import tax on China, bringing China's tariff total to 20%. Further tariff packages are still in the oven, with the Trump...
Asia-Pacific markets opened mostly higher Wednesday amid worries over U.S. President Donald Trump's tariffs and escalating global trade tensions. Australia's S&P/ASX 200 fell 0.73%. Japan's Nikkei 225 added 0.25% while the Topix rose 0.28%. South Korea's Kospi climbed 1.09% while the small-cap Kosdaq advanced 1.26%. Futures for Hong Kong's Hang Seng index were at 23,014, higher than the HSI's last close of 22,941.77. Investors will be looking out for announcements coming out of China's "Two Sessions," an annual parliamentary gathering which began on Tuesday, where Beijing is poised...