US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
Asia-Pacific markets opened higher Tuesday, tracking gains on Wall Street that appeared to look past U.S. President Donald Trump's tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia's S&P/ASX 200 traded 0.24% higher. South Korea's Kospi rose 0.36%, while the small-cap Kosdaq traded around the flatline.Hong Kong's Hang Seng index futures were at 21,576, slightly stronger than the HSI's last close of 21,521.98.Japan markets were closed for a holiday.Investors will also be keeping an eye on Singapore markets after the...
Stocks rose on Monday as major technology names outperformed to start the week, while traders shrugged off President Donald Trump's latest U.S. tariff threats. The Dow Jones Industrial Average was trading about 167 points higher, or nearly 0.4%, led by a roughly 4% gain in McDonald's. The S&P 500 was up 0.67%, and the Nasdaq Composite was up about 0.98%. Markets remained jittery on a mix of inflation concerns coupled with worries about how Trump's tariff plans could hurt the U.S. economy. Trump told reporters Sunday that he plans to announce a blanket tariff of 25% on all steel and...
US stocks were higher to kick off the week, with the S&P 500 rising 0.5%, the Nasdaq adding 0.7% and the Dow Jones gaining about 270 points, with traders digesting fresh tariffs and awaiting key economic data and Fed Chair Powell's testimony to Congress. President Trump announced plans to impose 25% tariffs on all imports of steel and aluminum into the US and said new reciprocal tariffs would also be announced this week. Steel-related companies got a boost on the news, namely Cleveland-Cliffs (14.2%), Nucor (6.2%), Steel Dynamics (4.3%), US Steel Corp (4%), and Alcoa...
The Hang Seng soared 388 points or 1.8% to end at 21,522 on Monday, rising for the third session and notching their highest level since early October amid widespread sector gains. Concerns about China's deflation notably eased after Sunday's data showed consumer inflation hit a 5-month high due to solid holiday spending. In addition, worries about trade row between China and the US waned, with many traders viewing US tariff threats as negotiation tactics. The tech index climbed over 2.5% on continued optimism around China's AI tech. Meanwhile, China's three largest telecom operators --...
Major bourses in Europe kicked off the week slightly higher, with both the STOXX 50 and the STOXX 600 adding about 0.2%, as traders try to shrug off concerns about the trade war. President Donald Trump announced plans to impose 25% tariffs on all imports of steel and aluminum into the US and said new reciprocal tariffs would also be announced this week. This came as China's retaliatory tariffs on select US exports are set to take effect today, while German Chancellor Olaf Scholz stated that the EU is ready to respond "within an hour" if the US imposes tariffs on European goods. Real...