Silver climbed above $48.3 per ounce on Monday, its highest level since April 2011, as the ongoing US government shutdown and expectations of further Federal Reserve rate cuts boosted demand for safe-haven assets. Lawmakers once again failed to secure a funding deal, halting key federal programs and delaying major data releases, including September's jobs report originally scheduled for Friday. Markets are now nearly fully pricing in a quarter-point Fed rate cut this month and another in December. Investors also await remarks from Fed Governor Stephen Miran on Wednesday and Chair Jerome...
The S&P 500 slid in a head-spinning session for traders as they grappled with new tariffs proposed by President Donald Trump that were in flux throughout most of Tuesday. The trade policy uncertainty has brought the benchmark to the brink of a correction, which is defined as a decline of 10% from its high. The S&P 500 ended the session 0.76% lower, falling to 5,572.07. At its low of Tuesday's session, the index was 10% below its record close. The Dow Jones Industrial Average lost 478.23 points, or 1.14%, to close at 41,433.48. The Nasdaq Composite slipped 0.18%, closing at...
European stock markets closed lower on Tuesday, sharply extending losses as trade tensions between the U.S. and Canada escalated. After a negative start to the week for global equities as U.S. growth fears weighed, the pan-European Stoxx 600 ended Tuesday down by another 1.7%. Milan-listed shares of Jeep and Dodge owner Stellantis fell 5%, with the Stoxx Autos index down 2.13%, after U.S. President Donald Trump threatened to hike tariffs on cars coming into the U.S. from Canada. Stellantis has several production facilities in Canada. Stellantis and other automakers which sell to the U.S....
The Dow Jones Industrial Average (DJIA) shed further weight on Tuesday, dropping nearly 700 points on the day, or 1.76% after United States (US) President Donald Trump vowed to heat up his own trade war with Canada. President Trump took to his Truth Social account early Tuesday, informing his social media followers that he's instructed his Secretary of Commerce to impose an additional 25% tariff on all Canadian steel and aluminum exports to the US, bringing the new total to 50% on all Canadian metals. The new tariffs are, in theory, slated to go into effect on Wednesday morning. Donald...
The Dow Jones Industrial Average fell on Tuesday after President Donald Trump imposed additional tariffs on Canadian steel and aluminum entering the U.S. The 30-stock average fell 565 points, or 1.4%, while the S&P 500 fell 1%. The Nasdaq Composite slipped 0.6%. In a Truth Social post, Trump said tariffs on steel and aluminum would double to 50% from 25%, effective Wednesday. It was the latest in a series of escalating trade policy moves that have stoked fears of a U.S. economic recession. The White House has already imposed tariffs on Canadian, Mexican and Chinese imports, leading to...
European markets opened lower on Tuesday as global markets slumped amid concerns that the U.S. economy will suffer from President Donald Trump's trade tariffs. The pan-European Stoxx 600 index fell about 0.2% shortly after the opening bell, with the U.K.'s FTSE 100 down 0.2%, while France's CAC 40 gained 0.3% and Germany's DAX added 0.2%. The travel and leisure sectors led the losses. Health care stocks were also in negative territory, after Danish pharmaceutical giant Novo Nordisk's latest weight-loss drug trial results. The pharmaceutical giant fell about 2.62% in early trade, while...
The Hang Seng Index closed almost unchanged at 23,782 on Tuesday, recovering from early losses as most sectors rose. Sentiment improved after Citigroup Inc. raised its outlook on China's stock market to overweight, citing AI breakthroughs. The technology index rose more than 1%, led by Kuaishou Tech (5.2%) and Semicon Manufacturing (3.1%). Properties and financials also gained on hopes that China's parliamentary meeting, which ends today, will boost market confidence despite lingering deflationary pressures, trade tensions with the U.S. and uncertainty in the property market. Meanwhile,...
The Hang Seng closed almost unchanged at 23,782 on Tuesday, recovering from early losses as most sectors rose. Sentiment improved after Citigroup Inc. raised its outlook on China's stock market to overweight, citing AI breakthroughs. The technology index rose more than 1%, led by Kuaishou Tech (5.2%) and Semicon Manufacturing (3.1%). Property and financials also gained on hopes that China's parliamentary meeting, which ends today, will boost market confidence despite lingering deflationary pressures, trade tensions with the U.S. and uncertainty in the property market. Meanwhile, U.S. stock...
European markets opened mixed on Tuesday as global markets weighed on concerns that the U.S. economy will suffer from President Donald Trump's trade tariffs. The U.K.'s FTSE 100 is expected to open 9 points higher at 8,606, Germany's DAX is up 5 points at 22,613, France's CAC is down 7 points at 8,041 and Italy's FTSE MIB is down 9 points at 38,816, according to data from IG. Traders will be focused on earnings from Persimmon, Lego and Leonardo, also due on Tuesday. Volkswagen reported a 15% year-on-year drop in annual operating profit on Tuesday, citing rising costs and "exceptional...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....