Oil prices edged higher on Friday (July 18th), heading for a slight weekly loss, as investors weighed new EU sanctions against Russia. Brent crude futures rose 50 cents, or 0.72%, to $70.02 a barrel at 09:12 GMT, while U.S. West Texas Intermediate crude futures rose 61 cents, or 0.9%, to $68.15 a barrel. At those levels, the contracts were headed for marginal weekly losses of 0.5% and 0.4%, respectively. Investors were weighing the potential impact on global oil balances of the European Union's agreement on an 18th package of sanctions against Russia over its war in Ukraine, which includes...
Asia-Pacific markets opened higher Tuesday, rebounding from previous session's losses over U.S. President Donald Trump's tariff policy and threats of even higher levies against China.Australia's S&P/ASX 200 added 0.18% at the open.Japan's Nikkei 225 rose 6.41% while the Topix gained 6.81%. South Korea's Kospi rose 1.7% while the small-cap Kosdaq climbed 2.35%.Hong Kong's Hang Seng Index rose 2.25%, while the Hang Seng Tech Index jumped 4.17%. Hong Kong's stock market led losses in the region on Monday, with the Hang Seng Index plummeting over 13% to log its steepest one-day decline since...
Hong Kong shares jumped 495 points or 2.5% to 20,304 in Tuesday morning trade, attempting to recover from a historic 13.2% plunge in the previous session—the steepest one-day loss since 2008. The upturn was supported by broad-based gains, led by strength in the tech and consumer sectors. Sentiment improved, buoyed by a sharp rise in U.S. futures, after Wall Street's S&P 500 posted its third consecutive loss overnight in the wake of President Trump's latest tariff announcement. Meanwhile, Beijing warned it will "fight to the end" if the U.S. moves forward with additional tariffs,...
The Nikkei 225 Index jumped 6% to around 33,000 while the broader Topix Index gained 3.5% to 2,370 on Tuesday, recouping losses from the previous session after US President Donald Trump said that he agreed to meet with Japanese officials to begin trade negotiations following a phone call with Prime Minister Shigeru Ishiba. However, volatility is expected to remain high as Trump threatened China with another 50% tariff on top of existing levies if Beijing does not lift its duties on US imports. Financial stocks led the rebound after bearing the brunt of the recent selloff, with strong gains...
U.S. stocks closed mostly lower on Monday (07/04), as markets reacted to President Donald Trump's escalating trade war with China, including threats to impose additional tariffs of 50% if Beijing does not roll back its retaliatory measures. The S&P 500 fell 0.7%, the Dow Jones dropped 342 points in a wild session marked by record intraday moves, and the Nasdaq 100 closed up 0.2% after earlier plunging more than 3%. Volatility surged across asset classes, with equities, Treasuries and commodities all being tossed around by conflicting headlines, including speculation about a 90-day tariff...
European stocks plunged to the lowest in more than a year on Monday, as President Donald Trump issued a fresh tariff threat to China and foreign leaders raced to the negotiating table to persuade him to lower his steep tariff charges. The Stoxx Europe 600 Index was 4.5% lower at the close in London, the lowest since end-January 2024, having earlier shed as much as 6.5%. The DAX slid 4.2%, recouping some of its earlier 10% plunge. Shortly before the closing bell in Europe, Trump threatened to impose an additional 50% tariff on China unless...
U.S. stocks plunged for a third straight session on Monday, as the White House doubled down on aggressive tariffs against key trading partners despite growing market turmoil. The S&P 500 sank 3.7%, pushing its decline from its February record high to 20%, officially entering bear market territory. The Dow Jones dropped another 1,200 points, or 3.3%, while the Nasdaq fell 3.7%, having already entered a bear market last week amid mounting recession fears sparked by President Trump's sweeping trade policies. On Friday, China announced a 34% tariff on all U.S. imports instead of returning...
The Hang Seng plunged 3,021 points or 13.2% on Monday, marking its steepest one-day loss since 2008, to end below the 20,000 mark at 19,828. It was the second session of heavy selling, dragging the index to an over two-month low as most sectors, particularly tech, consumer, and financials, posted double-digit losses. The plunge followed escalating trade tensions, with the White House standing firm on tariff plans and China announcing retaliatory levies on U.S. goods. President Trump said markets would have to "take their medicine," saying no deal would be made until the U.S. trade gap was...
Japan's Nikkei share average slumped on Monday to the lowest level in 1-1/2 years, with the index of Japanese bank stocks diving more than 17% at one point, as concerns over a tariff-induced global recession continued to rip through markets. The Nikkei dropped as much as 8.8% to hit 30,792.74 for the first time since October 2023, before ending the day down 7.8% at 31,136.58. All 225 component stocks of the index finished in the red. The broader Topix sank as much as 9.6% before closing down 7.8%. Speaking on Sunday aboard Air Force One, U.S. President Donald Trump characterized his...
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....