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...
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....
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...