The Nikkei 225 Index slumped 3.2% to close at 48,703, while the broader Topix Index plunged 2.88% on Tuesday, falling for the third consecutive session as investors sold off tech stocks following Wall Street's sharp decline overnight ahead of the US jobs report and Nvidia's quarterly results. The Nikkei posted its steepest drop in more than seven months, hitting its lowest level since October 23. Escalating Tokyo–Beijing tensions also pressured sentiment, with retail stocks trading mixed after a sharp fall in the previous session. Traders closely watched a meeting between Japanese Prime...
European stock markets closed lower on Tuesday, sharply extending losses as trade tensions between the U.S. and Canada escalated. After a negative start to the week for global equities as U.S. growth fears weighed, the pan-European Stoxx 600 ended Tuesday down by another 1.7%. Milan-listed shares of Jeep and Dodge owner Stellantis fell 5%, with the Stoxx Autos index down 2.13%, after U.S. President Donald Trump threatened to hike tariffs on cars coming into the U.S. from Canada. Stellantis has several production facilities in Canada. Stellantis and other automakers which sell to the U.S....
The Dow Jones Industrial Average (DJIA) shed further weight on Tuesday, dropping nearly 700 points on the day, or 1.76% after United States (US) President Donald Trump vowed to heat up his own trade war with Canada. President Trump took to his Truth Social account early Tuesday, informing his social media followers that he's instructed his Secretary of Commerce to impose an additional 25% tariff on all Canadian steel and aluminum exports to the US, bringing the new total to 50% on all Canadian metals. The new tariffs are, in theory, slated to go into effect on Wednesday morning. Donald...
The Dow Jones Industrial Average fell on Tuesday after President Donald Trump imposed additional tariffs on Canadian steel and aluminum entering the U.S. The 30-stock average fell 565 points, or 1.4%, while the S&P 500 fell 1%. The Nasdaq Composite slipped 0.6%. In a Truth Social post, Trump said tariffs on steel and aluminum would double to 50% from 25%, effective Wednesday. It was the latest in a series of escalating trade policy moves that have stoked fears of a U.S. economic recession. The White House has already imposed tariffs on Canadian, Mexican and Chinese imports, leading to...
European markets opened lower on Tuesday as global markets slumped amid concerns that the U.S. economy will suffer from President Donald Trump's trade tariffs. The pan-European Stoxx 600 index fell about 0.2% shortly after the opening bell, with the U.K.'s FTSE 100 down 0.2%, while France's CAC 40 gained 0.3% and Germany's DAX added 0.2%. The travel and leisure sectors led the losses. Health care stocks were also in negative territory, after Danish pharmaceutical giant Novo Nordisk's latest weight-loss drug trial results. The pharmaceutical giant fell about 2.62% in early trade, while...
The Hang Seng Index closed almost unchanged at 23,782 on Tuesday, recovering from early losses as most sectors rose. Sentiment improved after Citigroup Inc. raised its outlook on China's stock market to overweight, citing AI breakthroughs. The technology index rose more than 1%, led by Kuaishou Tech (5.2%) and Semicon Manufacturing (3.1%). Properties and financials also gained on hopes that China's parliamentary meeting, which ends today, will boost market confidence despite lingering deflationary pressures, trade tensions with the U.S. and uncertainty in the property market. Meanwhile,...