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 saw a mixed open on Wednesday as investors assessed numerous earnings releases and a hotter-than-expected U.K. inflation print. The regional Stoxx 600 index was 0.06% higher in early deals following Tuesday's record close, while sectors and bourses were a mix bag. Dutch healthcare technology group Philips dropped 7% at the open after missing sales growth expectations for the fourth quarter amid a double digit decline in China.Earnings on Wednesday come from BAE Systems,Glencore,Rio Tinto, Koninklijke Philips and Carrefour.Europe's largest lender HSBC earlier on...
Hong Kong equities fell 59 points or 0.3%, to 22,913 in early trade on Wednesday, retreating from the previous session's rally. Sentiment was weighed by a fresh threat from US President Donald Trump to impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports. Additionally, some traders booked profits after the market hit a four-month high in the prior session. Limiting further losses, US futures edged higher following Wall Street's S&P 500 closing at a record high overnight. Meanwhile, China's new home prices fell 5.0% year-on-year in January, the mildest decline in...
The Nikkei 225 Index fell 0.2% to below 39,200 on Wednesday, ending a two-day rally as investors reacted to disappointing economic data. Core machinery orders in Japan, a key indicator of capital spending, unexpectedly dropped in December. Additionally, Japan reported a larger-than-expected trade deficit for January, with import growth outpacing exports. Investors also continued to monitor developments in global trade, as US President Donald Trump plans to impose reciprocal tariffs on countries that tax US imports by April. In corporate news, Honda indicated its willingness to resume merger...
Asia-Pacific stocks were mostly down Wednesday, breaking ranks with Wall Street that saw the S&P 500 close at a record high as investors appeared to look past tariffs and inflation headwinds. Japan's benchmark Nikkei 225 fell 0.62% while the broader Topix index was down 0.59% as the country reported a two-year high trade deficit. Business sentiment for Japanese manufacturers rose for the second month in February, results from the Reuters Tankan poll indicates. The manufacturers' sentiment index rose to plus 3 — its highest level since November — from plus 2 in January. Over in South...
Stocks fell slightly on Tuesday, with the S&P 500 struggling to reach an all-time high set a month ago, as traders weighed headwinds on global trade and inflation. The broad-market index fell 0.01%, while the Nasdaq Composite fell 0.5%. The Dow Jones Industrial Average fell 206 points, or 0.4%. Earlier on Tuesday, the S&P 500 was less than 0.1% from its intraday record. Energy was the best-performing sector in the S&P 500, rising 1.9%. Halliburton and Valero Energy led the gains. Technology stocks also rose slightly. However, a more than 1% decline in consumer and...