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 extended their sell-off Monday as fears over a global trade war sparked by U.S. President Donald Trump's tariffs fueled a risk-off mood. Hong Kong markets led losses in the region, with the Hang Seng Index declining 10.37%. Mainland China's CSI 300 fell 6.31%. Over in Japan, the benchmark Nikkei 225 lost 6.20% to hit an 18-month low while the broader Topix index plummeted 6.50%. Earlier in the day, trading in Japanese futures was suspended due the market hitting circuit breakers. In South Korea, the Kospi index was last down 4.74%, while the small-cap Kosdaq declined...
(Hong Kong) The escalation of the trade war has reached new heights as U.S. President Trump announced last Wednesday the imposition of "reciprocal tariffs" on all trading partners. In response, China declared countermeasures last Friday, imposing a 34% tariff on all goods from the United States. The global stock markets have been reeling since last Thursday, with a significant downturn witnessed this morning in the Asia-Pacific region. The Japanese stock market plummeted by around 3,000 points, breaching the 31,000 point mark. Investors are seeking refuge in the bond market, leading to a...
Asia-Pacific markets extended their sell-off Monday as fears over a global trade war sparked by U.S. President Donald Trump's tariffs fueled a risk-off mood. Japanese markets led losses in the region in early trade. The benchmark Nikkei 225 plunged 8.03% while the broader Topix index plummeted 8.64%. Over in South Korea, the Kospi index fell 4.34% at the open, while the small-cap Kosdaq fell 3.48%. Australia's S&P/ASX 200 declined 6.07% at the open. The benchmark slid into correction territory with an 11% decline since its last high in February, in its previous session. Futures for...
The Nikkei 225 Index plunged 8% to below 30,000 on Monday, hitting its lowest levels since October 2023 as the global selloff triggered by US President Donald Trump's aggressive tariffs and the resulting trade war intensified. Over the weekend, markets found little relief amid a lack of successful negotiation to lower or at least delay tariffs. The Trump administration also downplayed the market selloff and dismissed fears of inflation and recession, maintaining that tariffs would push through as planned. President Donald Trump stated on Sunday evening that he isn't deliberately causing the...
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...