The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was down 0.7%, France's CAC decreased 2.9%, and the Swiss Market Index declined 0.8%. The annual inflation rate in the euro area was an estimated 2.0% in July, which is unchanged from June, according to a flash estimate from Eurostat, the EU's statistical office. Analysts had been expecting 1.9%, according to Bloomberg. Eurostat said food, alcohol, and tobacco are expected to have the highest annual rate in July at 3.3%, compared with 3.1% in...
Japan's Nikkei share average rose on Monday, led by iPhone-linked shares after the United States exempted smartphones and other electronics from high tariffs. As of 0218 GMT, the Nikkei was up 1.5% at 34,086.16, after rising as much as 2.22% earlier in the session. The broader Topix gained 1.45% to 2,502.86. "The market is still being influenced by various headlines," said Yugo Tsuboi, chief strategist at Daiwa Securities. "And none of them are good enough to encourage investors to take their positions with confidence." The Trump administration has exempted smartphones, computers and...
Asia-Pacific markets rose on Monday as U.S. President Donald Trump halted tariffs on some consumer electronics, boosting risk sentiment. Japan's benchmark Nikkei 225 index rose 1.37% while the broader Topix index gained 1.41%. In South Korea, the Kospi index rose 0.88% while the small-cap Kosdaq index gained 1.46%. Mainland China's CSI 300 index rose 0.57% at the open while Hong Kong's Hang Seng Index gained 1.93%. Australia's S&P/ASX 200, meanwhile, rose 1%. Indian markets were closed for a public holiday. Trump exempted smartphones and computers as well as other devices and...
US stocks rose on Friday, ending a turbulent week on a positive note, as optimism grew over a potential U.S.-China trade deal. The S&P 500 rose 1.8%, the Nasdaq gained 2%, while the Dow gained 618 points. Sentiment improved after comments from the White House that President Trump was "optimistic" China would work toward a deal with the U.S. Trade tensions escalated when President Trump raised tariffs on Chinese goods to 145%, prompting retaliatory measures from China, which raised its duties on U.S. imports to 125%. On the data front, a University of Michigan survey showed consumer...
European stock markets reversed early gains to close lower, capping a turbulent week dominated by escalating trade tensions between the US and China, which reignited fears of a global recession and triggered an aggressive pivot away from US assets. The STOXX 50 fell 0.6% and the broader STOXX 600 slipped 0.2%. China's finance ministry announced additional tariffs of 125% on U.S. goods, in response to President Trump's decision a day earlier to raise levies on Chinese imports to 145%. In Europe, the EU temporarily suspended its planned retaliatory tariffs for a 90-day period, mirroring...
Stocks slipped Friday as traders weighed the latest developments on the tariff front as they wrap up a wild week. The Dow Jones Industrial Average traded 140 points lower, or 0.4%. The S&P 500 shed 0.4%, and the Nasdaq Composite pulled back by 0.2%. This week has been one of the most volatile periods on record for Wall Street. The major averages tumbled Thursday as traders went into risk-off mode, with trade policy uncertainty weighing on sentiment, losing a chunk of the historic gains seen on Wednesday after Trump announced a 90-day reprieve on some of his high "reciprocal"...