Donald Trump said he would impose a 100% tariff on semiconductor imports, though it would exempt companies that move production back to the United States, as Apple Inc. CEO Tim Cook and the president announced a $100 billion new investment plan from the Oval Office. "We're going to have a very large tariff on chips and semiconductors, but the good news for companies like Apple is, if you're building in the United States, or have committed to building, without question, committed to building in the United States, there will be no cost," Trump told reporters. "So in other words, we're going...
U.S. stocks fell in afternoon trading, with the S&P 500 down 0.8% and on track to snap a six-day winning streak. The Nasdaq fell 0.9%, while the Dow Jones Industrial Average dropped 250 points. The declines followed a recent rally fueled by easing trade tensions and investor optimism about President Trump's proposed tax and tariff policies. However, growing concerns that investor relief over easing inflation and trade progress may be premature weighed on sentiment. A selloff in big tech companies dragged the market lower, with Alphabet down during the Google I/O event and additional...
European stocks closed higher on Tuesday, recovering from a slight decline in the previous session and hitting a two-month high, amid continued support from the prospect of increased government spending in Europe. The euro zone STOXX 50 closed 0.4% higher at 5,450 and the STOXX 600 gained 0.7% to 554, supported by a strong session for pharmaceutical heavyweights. Consumer discretionary stocks pared some of the previous session's steep losses, with LVM, BMW and Kering rising between 4% and 1.5%. Banks were also mostly higher, led by BBVA, UniCredit and Intesa Sanpaolo up more than...
Wall Street's main indexes opened lower on Tuesday as investors awaited commentary from Federal Reserve officials through the day to assess the potential impact of U.S. President Donald Trump's tariffs in the second half of 2025. The Dow Jones Industrial Average (.DJI), opens new tab fell 57.0 points, or 0.13%, at the open to 42735.11. The S&P 500 (.SPX), opens new tab fell 18.9 points, or 0.32%, at the open to 5944.66, while the Nasdaq Composite (.IXIC), opens new tab dropped 83.4 points, or 0.43%, to 19132.057 at the opening bell. Source: Reuters
The Hang Seng jumped 349 points or 1.5% to close at 23,681 on Tuesday, picking up from a muted session the day before as all sectors posted strong gains. Sentiment recovered after the PBoC cut key lending rates to fresh lows for the first time in seven months, aiming to support the economy and cushion potential fallout from a trade war with the U.S. In a coordinated move, some major state-owned banks also lowered deposit rates to ease pressure on narrowing interest margins. However, further gains were tempered by a modest fall in U.S. futures, with investors cautiously awaiting remarks...
European equity indices edged higher Tuesday, boosted by a Chinese rate cut as well as the possibility of peace talks to end the Ukraine conflict. At 03:05 ET (07:05 GMT), the DAX index in Germany climbed 0.2%, the CAC 40 in France gained 0.2% and the FTSE 100 in the U.K. rose 0.3%.European stock indices have received a solid lead in from gains in Asia overnight, boosted by the decision of the People's Bank of China to cut its benchmark loan prime rate, bringing the rate further into record low territory. The cut signaled that Beijing was open to doling out more monetary stimulus to...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Treasury Secretary Scott Bessent told him he did not want to be nominated to replace Jerome Powell as the next chair of the Federal...