The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its third day. Pressure came from major technology names, with Palantir Technologies leading the S&P 500 lower, dropping 7.5%, while Tesla and Nvidia fell 1.4% and 0.7%, respectively. Applied Materials declined 2.7% after warning of a $600 million revenue hit tied to semiconductor export restrictions. Investors focused on the shutdown, which...
U.S. stocks extended their selloff on Friday after Fed Chairman Jerome Powell warned that the economic impact of an escalating trade war could be worse than expected, as fears of a trade war rattled markets. The S&P 500 plunged nearly 6%, the Dow dropped 2,230 points, and the Nasdaq dropped 5.8%, hitting its lowest level since May. Powell cited rising risks from inflation and slower growth, while reiterating a cautious, wait-and-see stance on interest rate cuts. Market anxiety increased after China's finance minister announced 34% tariffs on all U.S. imports, mirroring President Trump's...
European stock markets closed sharply lower on Friday, with investors still reeling from the scale of U.S. tariffs announced this week. The regional Stoxx 600 index closed down 5%, marking its worst weekly loss of the year, down 8.3% from the previous week. Banks fell 8.5% after a 5.53% drop on Thursday. The sector, once seen as vulnerable to slowing growth or recession, is now seen as a much stronger possibility for both the U.S. and global economies. Banks are also "one of the slowest assets to come forward in assessing global macro issues," Bank of America strategists said Friday....
The S&P 500 dropped 2.7%, the Dow tumbled 970 points, and the Nasdaq sank 3.1% on Friday, hitting their lowest levels since last August and extending the previous session's sell-off. The trade war escalated further as China's finance minister announced a 34% tariff on all US imports, mirroring the levy imposed by President Trump on Wednesday. Investor anxiety is mounting over the economic fallout, with many economists warning of higher prices, slower growth, and a potential recession. On the data front, payrolls rose way more than expected, continuing to point to a healthy labour...
Major bourses in Europe extended their losses on Friday, with the STOXX 50 dropping 0.9% and the STOXX 600 falling 1%, reaching their lowest levels since mid-January. This extended the sharp sell-off from the previous session, when the benchmarks tumbled 3.7% and 2.7%, respectively. Investor sentiment remains cautious following the Trump administration's tariff announcement. In response, the EC has stated it is preparing countermeasures, French President Macron urged French companies to halt planned investments in the US and Germany's outgoing economy minister predicted that Trump would...
Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 2.80% to hit a new 6-months low. The best performers of the session on the Nikkei 225 were Nitori Holdings Co Ltd (TYO:9843), which rose 5.30% or 780.00 points to trade at 15,510.00 at the close. Meanwhile, KDDI Corp. (TYO:9433) added 4.70% or 107.00 points to end at 2,382.50 and Secom Co., Ltd. (TYO:9735) was up 4.33% or 215.00 points to 5,178.00 in late trade. The worst performers of the session were...