Wall Street faced a broad sell-off on Wednesday, led by a steep downturn in tech stocks as trade tensions escalated and investors digested cautious remarks from Federal Reserve Chair Jerome Powell.
The S&P 500 lost 2.2%, the Dow dropped nearly 700 points, and the Nasdaq sank 3%. Nvidia plunging 6.9% after the chipmaker disclosed it would take a $5.5 billion charge due to new US export restrictions on its AI chips bound for China. Other chipmakers followed suit, with AMD (-7.3%) and Micron Technology (-2.4%) both falling on cost warnings and weak demand. Powell's speech in Chicago added to the market's anxiety, warning that tariffs could spur higher inflation and slower growth, creating a dilemma for the Fed's dual mandate.
Investors were disappointed by the lack of a clear signal on future rate cuts, pushing major indices to session lows. Meanwhile, retail sales surged 1.4% in March as consumers rushed to make purchases before new tariffs took effect.
Source: Trading Economics
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Aus...
US stocks advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President Trump's criticism of the Fed and renewed tariff threats....
S&P 500 and Nasdaq 100 futures edged up 0.1% and 0.2%, respectively, on Thursday morning (July 17), while the Dow Jones Industrial Average remained flat. What caused this? Investors were digesting...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, marking their first advances in six and five consecutive sessions, respectively, as investor attention shifted to corporate earnings. ...
Gold prices rose on Friday (July 18th), but were on track for a weekly decline as concerns about the US Federal Reserve's independence eased and strong US data emerged, while platinum rose to a nearly 11-year high. Spot gold rose 0.3% to $3,349.49...
Gold prices rose to a new daily high during the European session on Friday (July 18th), continuing their rebound from a low hit more than a week earlier. This increase was driven by a weakening US dollar following dovish remarks from Fed Governor...
The Hang Seng Index surged 327 points, or 1.3%, to close at 24,825 on Friday (July 18th), reversing two days of declines as all sectors rallied. The index hit a four-month high and rose 2.8% for the week, marking its second consecutive weekly...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...