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...
The Hang Seng jumped 417 points or 2.1% to end at 20,682 on Thursday, marking its third straight gain as traders shrugged off Washington's latest tariff hike on Chinese goods—from 104% to 125%- on bets Beijing will do more to shield the economy from levies. China also released a White Paper showing a willingness to engage with the U.S. to ease a trade war while vowing to take firm measures to defend its interests. Sentiment was further lifted by reports that top Chinese leaders were meeting to discuss new support measures, with regulators exploring fresh steps to calm markets. Adding to...
Japan's Nikkei share average jumped 9% on Thursday as investors scooped up beaten-down stocks after U.S. President Donald Trump declared an immediate 90-day tariff pause for many countries. The Nikkei rose 9.13% to 34,609 in its biggest daily gain since August 6, the day after the index fell in its biggest single-day rout since the 1987 Black Monday crash. The broader Topix climbed 8.09% to 2,539.4. "Investors bought back stocks today, wishing that they had not dumped stocks in the previous session," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence...
European markets rose sharply at the open on Thursday, after U.S. President Donald Trump temporarily reversed course on tariffs. The regional Stoxx 600 index was 7.04% higher shortly after the opening bell, with stocks across the board surging to place all individual sectors firmly in positive territory. Banking, tech and industrials stocks notched the biggest gains, surging 10%, 9.9% and 9.1%, respectively. In a volatile week for markets that has been marked by sharp moves higher and lower, the pan-European Stoxx 600 ended the prior session down 3.5% at its lowest closing level since...
The Nikkei 225 Index surged 8% to above 34,000 on Thursday, erasing losses from earlier this week after US President Donald Trump unexpectedly lowered new tariff rates on imports from most US trade partners to 10% for 90 days to allow for trade negotiations. This marks a significant reduction from the previous 24% levy applied to Japanese imports. The Trump administration confirmed earlier this week that they will hold trade talks with Japanese officials following a phone call between President Trump and Prime Minister Shigeru Ishiba. However, Trump still raised the tariffs imposed on...
Asia-Pacific markets rose Thursday, following Wall Street's biggest burst of buying since 2008 after U.S. President Donald Trump announced a 90-day pause on higher tariffs on all nations bar China. Japanese markets led gains in the region. The benchmark Nikkei 225 rose 8.19%, while the broader Topix index advanced 7.44%. South Korea's Kospi index surged 5.36%, while the small-cap Kosdaq gained 5.32%. Australia's S&P/ASX 200 rose 4.69%. Investors will be keeping a close watch on Chinese stocks, as the U.S. raised duties on imports from the Mainland to 125% after Beijing announced...