European stocks closed lower for a third session amid persistent concerns about US tariffs. The Eurozone STOXX 50 index fell 1% to 5,288, and the pan-European STOXX 600 index fell 0.5% to 544. US Treasury Secretary Bessent noted that White House officials were prioritizing trade agreements they considered beneficial rather than rushing to reach a deal before the August 1 deadline, which could potentially pave the way for the imposition of 30% tariffs on the EU before negotiations conclude. Defense stocks were among the biggest decliners, with Rheinmetall, BAE Systems, and Thales falling...
European stocks closed flat on Wednesday to hold a near two-month high hit in the previous session, as a lack of fresh catalysts maintained the prospect that higher government spending in Europe would boost investment among corporate giants. The STOXX 50 closed flat at 5,455 and the pan-European STOXX 600 was flat at 554. Technology stocks led gains in the session, with Infineon jumping 2.5% after announcing a collaboration with Nvidia to develop a new power delivery architecture for data centers. Deutsche Telekom, Nokia, ASML and technology holding company Prosus also closed higher. On...
US stocks were lower on Wednesday, with both the S&P 500 and the Nasdaq falling 0.5% and the Dow Jones losing more than 300 points, extending losses from the previous session. Investor sentiment weakened amid growing concerns over the US fiscal outlook, with lawmakers discussing President Trump's tax-and-spending bill that will likely increase the budget deficits by nearly $3 billion over a decade. Frustration is also mounting over the lack of progress in trade negotiations. Consumer discretionary was by far the worst performing sector while communication services manged to stay in the...
The Hang Seng rose 146 points or 0.6% to finish at 23,828 on Wednesday, marking its second straight session of gains and reaching its highest level since late March. All sectors advanced, led by consumer, tech, and property stocks. Market sentiment was buoyed by a positive call from Morgan Stanley, which raised its targets for Chinese stock indexes, citing structural improvements and progress on tariffs and earnings. However, further upside was limited by a sharp drop in U.S. futures following Wall Street's recent rally. Also, Morgan Stanley warned that deflation risks in China may...
Both the STOXX 50 and STOXX 600 slipped 0.2% on Wednesday, retreating from nearly two-month highs reached the previous day, as traders awaited new catalysts amid concerns over stalled trade talks, weak economic data, and corporate earnings. Markets are closely watching the ongoing G7 finance ministers' meeting for any signals that a weaker dollar could support progress in trade negotiations. In the UK, inflation rose to 3.5%, prompting investors to scale back expectations for Bank of England rate cuts. On the corporate front, JD Sports shares plunged over 7% after reporting a 2% drop in...
The Nikkei 225 fell 214 points or 0.6% to close at 37,315 on Wednesday, following small gains in the previous session. Meanwhile, the broader Topix index slipped 0.3%, giving up early gains. These declines followed fresh trade data showing Japan's exports grew at the slowest pace in seven months in April, as rising U.S. tariffs began to weigh. Exports to the U.S. fell for the first time in four months, driven by weaker demand for automobiles, steel, and ships. According to the Nikkei newspaper, lead trade negotiator Ryosei Akazawa is set to visit the U.S. on Friday for a third round of...