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...
European markets opened mixed on Tuesday as global markets weighed on concerns that the U.S. economy will suffer from President Donald Trump's trade tariffs. The U.K.'s FTSE 100 is expected to open 9 points higher at 8,606, Germany's DAX is up 5 points at 22,613, France's CAC is down 7 points at 8,041 and Italy's FTSE MIB is down 9 points at 38,816, according to data from IG. Traders will be focused on earnings from Persimmon, Lego and Leonardo, also due on Tuesday. Volkswagen reported a 15% year-on-year drop in annual operating profit on Tuesday, citing rising costs and "exceptional...
Japan stocks were lower after the close on Tuesday, as losses in the Shipbuilding, Manufacturing and Services sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.32%. The best performers of the session on the Nikkei 225 were Yokogawa Electric Corp. (TYO:6841), which rose 3.34% or 100.00 points to trade at 3,095.00 at the close. Meanwhile, Aozora Bank, Ltd. (TYO:8304) added 2.56% or 54.00 points to end at 2,163.00 and Nexon Co Ltd (TYO:3659) was up 2.50% or 50.00 points to 2,046.50 in late trade. The worst performers of the session were Konica Minolta, Inc. (TYO:4902),...
Hong Kong stocks slid for a third straight day, tracking losses in major Asian markets, amid concerns rising tensions stoked by US trade policies will hurt economic growth and fuel recession risks. The Hang Seng Index tumbled 1 per cent to 23,555.24 at 10.50am local time on Tuesday, adding to a 1.9 per cent loss on Monday and a 0.6 per cent setback on Friday. The Hang Seng Tech Index slipped 0.3 per cent. The CSI 300 Index fell 0.5 per cent and the Shanghai Composite Index of onshore stocks declined 0.4 per cent. Japan's Nikkei 225 fell 1.7 per cent while South Korea's Kospi Index lost 1.3...
The Nikkei 225 Index tumbled 2.5% to below 36,200, while the broader Topix Index dropped 2.9% to 2,620 on Tuesday, reaching their lowest levels in at least five months. The decline followed a sharp selloff on Wall Street overnight, fueled by growing US recession fears. Over the weekend, US President Donald Trump described the economy as being in "a period of transition" when asked about a possible recession, with his tariff policies and government shake-ups adding to market concerns. In Japan, sentiment was further dampened by weaker economic data. Fourth-quarter GDP growth was revised...
Asia-Pacific markets are poised to slide on Tuesday, tracking losses in the U.S. following anxiety over tariff policy and a potential recession in the world's largest economy. Japanese markets led losses in the region, with the benchmark Nikkei 225 falling over 2% shortly after the open, while the broader Topix index fell 1.57%. The country's revised GDP for the fourth quarter came in at 2.2% on an annualized basis, below economists' expectations and the previous estimate of 2.8% growth. South Korea's Kospi started the day 1.78% lower, while the small-cap Kosdaq plunged...