The three US indices closed lower on Thursday, as gains in Microsoft and Meta failed to lift the broader market amid renewed trade uncertainties and economic concerns. The S&P 500 fell 0.5%, marking its third consecutive loss, while the Nasdaq 100 slipped 0.4%. The Dow dropped 330 points, dragged down by losses in healthcare stocks. Market sentiment was dented by President Trump's decision to extend a 25% tariff on Mexican imports and looming deadlines for broader trade actions. The Fed's preferred inflation gauge, the core PCE, rose 0.3% in June and 2.8% from a year earlier, adding to...
European markets closed lower Wednesday as investors braced for new U.S. trade tariffs. The Stoxx 50 fell 0.4%, and the Stoxx 600 lost 0.6%, reversing Tuesday's rebound. Most sectors declined, with healthcare stocks hit hardest—down nearly 2%—amid fading hopes for tariff exemptions. Bayer dropped almost 4%, leading losses. Concerns grew after Trump reiterated that his "reciprocal tariffs" would apply to "all countries." Reports suggest a 20% tariff on most imports, but final details remain uncertain. The White House confirmed the measures would take effect immediately after their...
Stocks in the US were lower on Wednesday, with the S&P 500 falling 0.9%, the Nasdaq tumbling 1.4% and the Dow Jones falling more than 240 points. Investors remained on edge ahead of President Trump's upcoming tariff announcement. Reports suggested he is considering a universal 20% tariff on most imports, though uncertainty persists regarding the scale and scope of the levies. The White House has stated that the tariffs would take immediate effect but noted that Trump remains open to further negotiations. Meanwhile, the ADP report showed a surprise 155K gain in private sector employment...
The Hang Seng closed almost flat at 23,202 on Wednesday, following modest gains in the prior session, as strength in tech and financials were offset by weakness in property and consumers. Traders awaited President Trump's announcement on new reciprocal tariffs later today. The new duties are set to take effect immediately, the White House said, while a separate 25% tariff on auto imports will be enforced from April 3. On the geopolitical front, China conducted a second day of military drills around Taiwan on Wednesday, rattling market sentiment. At the same time, upbeat manufacturing data...
European markets opened lower Wednesday as global traders brace themselves for a raft of fresh trade tariffs due to be announced by U.S. President Donald Trump's administration. After rebounding Tuesday, the regional Stoxx 600 index was back in the red early Wednesday, down 0.23% shortly after the open. Most sectors notched declines, though travel and oil and gas stocks posted slight gains. Investors are concerned that the White House could be erring toward more punitive import duties after Trump said earlier this week that his "reciprocal tariffs" plan will target "all countries" when...
The Nikkei 225 fell 0.3% to around 35,520, while the broader Topix Index dropped 0.9% to 2,637 on Wednesday, extending this week's selloff as investors geared up for the implementation of US President Donald Trump's reciprocal tariffs. Trump is also set to impose levies on car imports, affecting a key export industry in Japan. Data earlier this week showed that business sentiment in Japan weakened for the first quarter amid mounting concerns over the potential effects of US tariffs on Japan's export-driven economy. Investors now await household spending data on Friday for further economic...