The Hang Seng rose 174 points or 0.7% to close at 25,562 on Monday, rebounding from losses in the prior session amid broad-based gains, led by financials and property stocks. Sentiment improved as the U.S. and China were set to resume trade talks in Stockholm, with reports suggesting a likely three-month extension of their tariff truce. Markets were near their highest in four years, lifted by news about the U.S.–EU trade deal, which set a 15% tariff on most EU goods, half the previously threatened rate. However, gains were capped by caution ahead of Hong Kong's June trade data due later...
Asia-Pacific markets were mixed on Wednesday, after all three benchmarks in Wall Street whipsawed on uncertainty over U.S. President Donald Trump's tariff plans and fears of a recession in the world's largest economy. The White House confirmed that the 25% tariffs on steel and aluminum would take effect on Canada and other nations from Wednesday state side, but added that Trump no longer plans to raise tariffs on Canadian steel and aluminum imports to 50%. Japan's benchmark Nikkei 225 index was up 0.25% in early trade, while the broader Topix index edged up 0.61%. South Korea's Kospi...
The S&P 500 slid in a head-spinning session for traders as they grappled with new tariffs proposed by President Donald Trump that were in flux throughout most of Tuesday. The trade policy uncertainty has brought the benchmark to the brink of a correction, which is defined as a decline of 10% from its high. The S&P 500 ended the session 0.76% lower, falling to 5,572.07. At its low of Tuesday's session, the index was 10% below its record close. The Dow Jones Industrial Average lost 478.23 points, or 1.14%, to close at 41,433.48. The Nasdaq Composite slipped 0.18%, closing at...
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...