Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures. "It makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now," Waller told a gathering of the Money Marketeers of New York University. "I see the hard and soft data on economic activity and the labor market as consistent: The economy is still growing, but its momentum...
The Dow Jones Industrial Average on Monday staged a major comeback, recovering steep losses from earlier in the session after President Donald Trump said tariffs against Mexico would be paused for one month. The 30-stock average ended the day down 122.75 points, or 0.28%, to close at 44,421.91. At its lows of the day, the Dow was down 665.6 points, or 1.5%. The S&P 500 slid 0.76% to 5,994.57, and the Nasdaq Composite slumped 1.2% to 19,391.96. The iShares MSCI Mexico ETF (EWW) which tracks Mexican stocks, rebounded to close more than 2% higher.Stocks initially dropped Monday after...
Russia's Vladimir Putin warned Europe will quickly "stand at the feet of the master" after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, provoking a global markets meltdown and alarm among European allies. Following Trump's decision at the weekend to impose trade duties on America's closest trading partners, Russian President Putin said Sunday that Trump's second administration would "restore order" in Europe. "I assure you: Trump, with his character, with his persistence, he will restore order there quite quickly. And all of them, you will see — it will happen...
European stocks sank on Monday after US President Trump announced tariffs on China, Canada, and Mexico, but closed above its mid-session lows after the President delayed measures against Mexico slightly before the bell. The STOXX 50 dropped 1.4% to 5,214 and the pan-European STOXX 600 dropped 0.9% to 534. Trump had imposed 25% tariffs on its North American neighbors and 10% levies on China, in addition to pledges of tariffs on the EU and the UK at a future date, after a series of conflicting signals of protectionism by the administration. Auto manufacturers led the losses amid their high...
Stocks dropped to kick off February after President Donald Trump hit several key U.S. trading partners with tariffs, raising fears that a full-blown trade war would disrupt global supply chains, reignite inflation and slow the economy. The Dow Jones Industrial Average traded more 458 points lower, or 1.1%. The S&P 500 shed 1.5%, and the Nasdaq Composite slid 1.8%. The impact from the new tariffs ricocheted around the globe in a risk-off move. President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. Energy...
Shares in some of Europe's biggest carmakers plunged on Monday after U.S. President Donald Trump imposed new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, raising concerns about possible duties on EU imports as well. Volkswagen (ETR:VOWG_p) and Stellantis (NYSE:STLA), which have major operations in Mexico and are particularly vulnerable to tariffs, both fell about 6%, the biggest decliners among their peers. Volvo (OTC:VLVLY) Cars, Mercedes Benz (ETR:MBGn), BMW (ETR:BMWG) and Porsche were all down between 3.4% and 5.2% by 0843 GMT. French auto parts...
According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...