The US dollar (USD) weakened on Friday (July 18th), retreating from a three-week high as momentum waned. However, the greenback remained supported by strong US economic data released this week, which has reduced the likelihood of an immediate interest rate cut by the Federal Reserve (Fed). The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, fell about 0.36%, approaching 98.30 in the European session on Friday. This decline came after the index hit a three-week high on Thursday, briefly approaching 99.00. This week's US data has reinforced the...
Major bourses in Europe extended their losses on Friday, with the STOXX 50 dropping 0.9% and the STOXX 600 falling 1%, reaching their lowest levels since mid-January. This extended the sharp sell-off from the previous session, when the benchmarks tumbled 3.7% and 2.7%, respectively. Investor sentiment remains cautious following the Trump administration's tariff announcement. In response, the EC has stated it is preparing countermeasures, French President Macron urged French companies to halt planned investments in the US and Germany's outgoing economy minister predicted that Trump would...
Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 2.80% to hit a new 6-months low. The best performers of the session on the Nikkei 225 were Nitori Holdings Co Ltd (TYO:9843), which rose 5.30% or 780.00 points to trade at 15,510.00 at the close. Meanwhile, KDDI Corp. (TYO:9433) added 4.70% or 107.00 points to end at 2,382.50 and Secom Co., Ltd. (TYO:9735) was up 4.33% or 215.00 points to 5,178.00 in late trade. The worst performers of the session were...
The Nikkei 225 fell 2% to around 34,000, while the broader Topix Index dropped 2.3% to 2,510 on Friday, extending losses from the previous session and hitting their lowest levels in about eight months. Japanese shares also tracked a sharp selloff on Wall Street overnight which wiped out $4 trillion in market value as US President Donald Trump's sweeping tariffs stoked fears of an all-out trade war and a global recession. The tariffs—including a 24% levy on Japanese imports and a 25% tariff on car shipments—have dealt a significant blow to Japan's export-heavy economy, particularly its...
Asia-Pacific markets extended declines on Friday, tracking steep losses on Wall Street after U.S. President Donald Trump's tariffs rattled global markets. Australia's S&P/ASX 200 fell 1.06%. Japan's Nikkei 225 fell 1.84% while the Topix declined 2.35%. South Korea's Kospi lost 1.15% and the small-cap Kosdaq traded 0.68% lower.Hong Kong and China markets are closed for the Qingming Festival. A verdict by South Korea's Constitutional Court to remove impeached President Yoon Suk Yeol is expected later Friday. Should he be removed from office, it will trigger a 60-day countdown where an...
US equities saw their sharpest decline in more than two years on Thursday, as major stock indexes suffered steep losses. The S&P 500 plunged 4.8%, wiping out about $2 trillion in market value, marking its biggest decline since 2020. The Dow dropped nearly 1,680 points, while the Nasdaq dropped 5.9%. Investors were rattled by the looming threat of President Trump's new tariff plans, which could trigger global retaliation and potentially harm economic growth. Technology stocks led the selloff, with Apple falling 9% and Nvidia dropping 7.8%, while big-box retailers Nike (-13%) and Dollar...
European stock markets closed lower on Thursday, following U.S. President Donald Trump's stronger-than-expected trade tariff announcement. The regional Stoxx 600 index ended down about 2.7%. Big retail names with global supply chains suffered, with German sportswear retailer Adidas down 11%. Shipping giant Maersk, widely seen as a barometer of global trade, fell 9.5%. The Stoxx Autos index fell 3.9% as Trump's 25% tariffs on imported vehicles to the U.S. came into effect and added to existing duties on steel and aluminum. Other big losers included banks, down 5.6%, and technology, down...
US stocks plunged on Thursday as investors reacted to President Trump's latest tariff announcement. The S&P 500 tumbled 3.2%, the Nasdaq plummeted 4.1%, and the Dow Jones sank about 1,060 points. On Wednesday, Trump unveiled a baseline 10% tariff on all imports, set to take effect on April 5, with around 60 countries facing even higher levies—54% for China, 20% for the EU, and 46% for Vietnam. Both China and the EU have already pledged retaliatory measures, stoking fears of a prolonged trade war, a potential US recession, and mounting inflationary pressures. Consumer discretionary,...
The Hang Seng dipped 352 points or 1.5% to end at a one-month low of 22,850 on Thursday, pressured by broad-based sector losses. Concerns over a deepening trade dispute with the U.S. intensified, with China vowing "resolute" retaliation against bigger-than-expected Trump latest tariffs. The U.S. imposed an additional 34% levy on Chinese imports on top of a 20% tariff introduced earlier this year. Meanwhile, U.S. futures plunged sharply, fueled by fears that escalating trade tensions could complicate central banks' efforts to cut interest rates. Tech stocks led the decline, falling around...
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....