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...
Asia-Pacific markets fell on Wednesday as investors brace themselves for U.S. President Donald Trump's country-specific tariffs that are set to come into effect midnight stateside. Australia's S&P/ASX 200 slid 1.06%. Japan's Nikkei 225 lost 3.14%, while the Topix traded 3.26% lower. South Korea's Kospi edged 0.18% lower while the small-cap Kosdaq lost 0.44%. Hong Kong's Hang Seng Index fell 3.86%, while the Hang Seng Tech Index declined 5.42%.Additional tariffs will take effect just after U.S. midnight, adding to the 10% baseline duty that was already implemented on Saturday. Chinese...
The S&P 500 closed below 5,000 for the first time in nearly a year after a strong start to the session on Tuesday, amid growing concerns about a global trade war as the Trump administration prepares to raise tariffs on China at midnight. At 4:00 p.m. ET (21:00 GMT), the Dow Jones Industrial Average was down 320 points, or 0.8%, the S&P 500 was down 2% to close at 4,987.76 and the Nasdaq Composite was down 2.2%. The S&P 500, which rose about 4.1% at its high on the day, closed below 5,000 for the first time since April 19, 2024. Global trade war fears mount as tariffs on China...
European stock markets closed sharply higher in Tuesday trading as the Stoxx Europe 600 advanced 2.72%, Germany's DAX rose 2.48%, the FTSE 100 in London climbed 2.71%, France's CAC 40 increased 2.50%, and the Swiss Market Index surged 2.82%. US President Donald Trump rejected a European Union proposal to eliminate tariffs on bilateral trade in industrial goods, which means a 20% tariff on all EU imports will take effect Wednesday, Bloomberg reported Tuesday. Trump criticized European Commission President Ursula von der Leyen's offer as insufficient to reset the transatlantic trading...
Major U.S. stock indexes rallied more than 3% on Tuesday, snapping a three-day losing streak marked by heightened volatility, as investor sentiment improved on hopes of progress in U.S. tariff negotiations. The S&P 500 surged 3.1%, the Dow Jones soared by 1,300 points (3.5%), and the Nasdaq rose 3.2%. The rebound followed comments from Treasury Secretary Scott Bessent, who disclosed that roughly 70 countries, including Japan, have reached out to the White House to initiate tariff talks. Despite the market optimism, U.S.-China tensions remained elevated. Beijing reiterated its resolve to...
The Hang Seng surged 299 points or 1.5% to close at 20,128 on Tuesday, partly rebounding from Monday's historic 13.2% fall, the steepest one-day loss since 2008. Gains were broad-based, led by tech and consumers, as hopes emerged that Washington might ease its tariff stance. In response to recent market turmoil, China moved state-owned firms and listed companies to help calm sentiment. Chinese financial regulator also plans to raise equity asset cap for some insurers by about 5%, aiming at channeling more long-term capital into stocks and supporting the economy. However, the index trimmed...
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...