The US Dollar (USD) gains positive traction on Thursday, recovering from a brief wobble late Wednesday after reports emerged that US President Donald Trump was considering firing Federal Reserve (Fed) Chair Jerome Powell. Market tensions eased after Trump walked back the threat, stating it was "highly unlikely" that he would dismiss Powell. The Greenback also finds support from stronger-than-expected Retail Sales data, which highlights resilient consumer spending and reduces the likelihood of near-term Fed rate cuts. The US Dollar Index (DXY), which tracks the value of the Greenback against...
U.S. stocks continued to slide on Tuesday as Donald Trump's tariffs on Canada, Mexico and China went into effect and prompted retaliatory measures, raising investor concerns about the economy. The Dow Jones Industrial Average fell 520 points, or 1.2%. The S&P 500 fell 1.1%. The Nasdaq Composite fell 1%, pushing the tech-heavy index near correction territory, when an index drops 10% from a recent high. The U.S. imposed 25% tariffs on Canada and Mexico that took effect at midnight. Trump also imposed additional 10% duties on Chinese goods. China retaliated with additional duties of up...
The Hang Seng Index fell 0.3% at 22,941.77 in Hong Kong. The move follows the previous session's increase of 0.3%. Alibaba Group Holding Ltd. contributed the most to the index decline, decreasing 2.0%. BYD Co. had the largest drop, falling 6.8%. Today, 38 of 83 shares fell, while 41 rose; 1 of 4 sectors were lower, led by commerce and industry stocks. Source : Bloomberg
European markets opened lower Tuesday as global investors brace for the start of U.S. tariffs on Mexico, Canada and China, along with retaliatory action. The Stoxx 600 index had tumbled 0.84% by 8:30 a.m. in London as the Stoxx 600 basket of automotive stocks — one of the sectors expected to be most impacted by the new duties — fell 2.7%. Among the companies hit were Dodge-maker Stellantis, down 4%, and Mercedes Benz, lower by 2.8%. French defense firm Thales meanwhile jumped 11% after reporting higher income and revenue for the full-year 2024 period. The stock was among many European...
Japanese stocks ended lower as renewed concerns about U.S. tariffs hit markets across Asia. Tech and brokerage stocks led the declines. SoftBank Group dropped 4.8% and Daiwa Securities Group lost 2.7%. The Nikkei Stock Average fell 1.2% to 37331.18. Investors are focusing on any developments in U.S. trade and foreign policies. USD/JPY was at 149.38, compared with 149.50 as of Monday 5 p.m. ET. The 10-year Japanese government bond yield rose 2 basis points to 1.425%. Source: Bloomberg
Shares in Hong Kong plunged 380 points or 1.7% to 222,631 on the Tuesday morning session following modest gains in the prior session. The steep decline followed a rout on Wall Street overnight after US President Trump confirmed that tariffs on key trading partners would take effect today. Meanwhile, China's state-backed Global Times said Beijing was preparing tariff countermeasures, potentially targeting US agricultural exports and increasing the prospect of tit-for-tat tariffs. Markets notched their lowest in nearly two weeks, with all sectors dragging down the benchmark Hang Seng index....
The Nikkei 225 Index fell 1.6% to below 37,200, while the broader Topix Index dropped 0.7% to 2,710 on Tuesday, erasing gains from the previous session and tracking a sharp decline in US stocks overnight. This came after US President Donald Trump confirmed that tariffs on key trading partners would take effect on Tuesday. Analysts are warning that markets may be underpricing tariff risks given how quickly a global trade war could escalate. In Japan, investors reacted to data showing an unexpected rise in the unemployment rate, which climbed to 2.5% in January from 2.4% in...
European markets closed higher on Monday, amid a charge in defense shares after regional leaders held security talks that touched on bolstered military spending. The regional Stoxx 600 index moved between losses and gains in early deals before closing 1.1% higher. The Stoxx Europe aerospace and defense index rose by 8%, marking its best session in five years.Among the biggest movers were Germany's Hensoldt, closing 22.3% higher, Italy's Leonardo, which was up 16%, and Dassault Aviation, which gained 15%. Sweden's Saab, France's Thales, and Britain's BAE Systems also crowded the top of...
The S&P 500 retreated on Monday, struggling to rebound from February's rout as a deadline on President Donald Trump's tariff policies this week ratcheted up economic concerns. The broad index fell 0.2%. The Dow Jones Industrial Average dropped 66 points, or 0.2%. The Nasdaq Composite slid 0.4%, weighed down by Nvidia's slide of more than 5%. Those moves come after the three major indexes notched losses for February, which concluded last week. The Dow and S&P 500 each slipped more than 1% in February, while the tech-heavy Nasdaq Composite recorded its worst month since April 2024...
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....