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 Nikkei 225 Index edged up 0.1% to around 36,830, while the broader Topix Index gained 0.8% to 2,692 on Wednesday, as Japanese stocks rebounded from multi-month lows amid improving risk sentiment. However, investor concerns lingered over US President Donald Trump's tariff policies and recession risks in the world's largest economy. Domestically, data revealed that sentiment among large manufacturing firms turned negative in the first quarter, highlighting ongoing economic challenges. In corporate news, Nissan Motor climbed 0.8% after announcing that CEO Makoto Uchida will step down on...
Asia-Pacific markets were mixed on Wednesday, after all three benchmarks in Wall Street whipsawed on uncertainty over U.S. President Donald Trump's tariff plans and fears of a recession in the world's largest economy. The White House confirmed that the 25% tariffs on steel and aluminum would take effect on Canada and other nations from Wednesday state side, but added that Trump no longer plans to raise tariffs on Canadian steel and aluminum imports to 50%. Japan's benchmark Nikkei 225 index was up 0.25% in early trade, while the broader Topix index edged up 0.61%. South Korea's Kospi...
The S&P 500 slid in a head-spinning session for traders as they grappled with new tariffs proposed by President Donald Trump that were in flux throughout most of Tuesday. The trade policy uncertainty has brought the benchmark to the brink of a correction, which is defined as a decline of 10% from its high. The S&P 500 ended the session 0.76% lower, falling to 5,572.07. At its low of Tuesday's session, the index was 10% below its record close. The Dow Jones Industrial Average lost 478.23 points, or 1.14%, to close at 41,433.48. The Nasdaq Composite slipped 0.18%, closing at...
European stock markets closed lower on Tuesday, sharply extending losses as trade tensions between the U.S. and Canada escalated. After a negative start to the week for global equities as U.S. growth fears weighed, the pan-European Stoxx 600 ended Tuesday down by another 1.7%. Milan-listed shares of Jeep and Dodge owner Stellantis fell 5%, with the Stoxx Autos index down 2.13%, after U.S. President Donald Trump threatened to hike tariffs on cars coming into the U.S. from Canada. Stellantis has several production facilities in Canada. Stellantis and other automakers which sell to the U.S....
The Dow Jones Industrial Average (DJIA) shed further weight on Tuesday, dropping nearly 700 points on the day, or 1.76% after United States (US) President Donald Trump vowed to heat up his own trade war with Canada. President Trump took to his Truth Social account early Tuesday, informing his social media followers that he's instructed his Secretary of Commerce to impose an additional 25% tariff on all Canadian steel and aluminum exports to the US, bringing the new total to 50% on all Canadian metals. The new tariffs are, in theory, slated to go into effect on Wednesday morning. Donald...
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...