Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade deal. Autos was among the worst-performing sectors, down 1.8%, as industry bosses warned that while manufacturers have regained some certainty, they will be left facing substantially higher costs. Brewing giant Heineken dropped 8.45% after reporting lower beer sales in the first half and flagging "softening sentiment in Europe and the Americas." Oil and gas stocks meanwhile finished 1.16% higher on broader optimism over the global trade outlook, and as...
US stocks traded sharply lower on Friday, with the S&P 500 down 1.4%, the Nasdaq falling 1.9%, and the Dow Jones sinking 500 points, as investors continue to weigh the impact of new tariffs while digesting the latest PCE report. Core PCE prices rose 0.4% on the month, above forecasts, pushing the annual rate higher to 2.8%, in a sign of rising price pressures. Also, personal spending increased less than expected. Meanwhile, fresh reciprocal tariffs are set to take effect next week. Consumer discretionary was by far the worst performer while the utilities sector outperformed. Megacaps...
The STOXX 50 fell 0.5% and the STOXX 600 dropped 0.4% on Friday, extending losses for a third straight session to levels not seen in nearly two weeks. Investor sentiment remained subdued, weighed down by tariffs imposed by the Trump administration, which have continued to raise concerns about the economic outlook.New reciprocal tariffs on U.S. imports, including a 25% levy on cars, are due to take effect on April 2. On the data front, inflation in France and Spain came in below expectations in March, while consumer sentiment in Germany failed to improve as anticipated. Shares of SAP, ASML...
The Hang Seng fell 152 points or 0.65% to close at 23,427 on Friday, snapping two-day gains amid broad-based losses. The index lost 1.1% for the week, marking its third straight weekly fall as investors fled riskier assets over mounting concerns that new U.S. tariffs could hurt global growth. President Trump plans to introduce a 25% tariff on auto imports and new reciprocal tariffs on key trading partners from April 2. Caution also prevailed ahead of U.S. PCE inflation data later today and China's March PMI figures next week. However, declines were cushioned by Chinese President Xi...
Japanese stocks fell after the close on Friday (3/28), as losses in the Shipbuilding, Manufacturing and Services sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 1.99%. The best performers of the session on the Nikkei 225 were Keio Corp. (TYO:9008), which rose 2.79% or 110.00 points to trade at 4,047.00 at the close. Meanwhile, Nexon Co Ltd (TYO:3659) rose 2.44% or 50.50 points to close at 2,123.00 and DeNA Co Ltd (TYO:2432) gained 1.83% or 67.00 points to 3,730.00 in late trade. The worst performers on the session were CyberAgent Inc (TYO:4751), which fell 5.54%...
Hong Kong stocks fell 76 points, or 0.3%, to 23,500 in early trade on Friday (3/28), reversing gains from the previous two sessions as declines spread across sectors. The Hang Seng is on track for a third straight weekly decline, down about 0.8% so far, amid concerns over tit-for-tat tariffs and upcoming auto levies from the US, along with the growing global trade dispute. Investors remain cautious ahead of China's March PMI data next week from official and private sources. Capping further losses, Morgan Stanley raised its year-end targets for MSCI China, the Hang Seng and other China...