Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&P 500 and Nasdaq 100 finished mostly muted near their records, while the Dow Jones dropped 142 points, pressured by a 2.2% decline in American Express shares. Trump reportedly demands a minimum 15-20% tariff in any deal with the EU, which is working to finalize an agreement before his August 1 deadline. On the corporate front, Netflix shares fell 5.1% despite beating revenue and earnings...
The Dow Jones Industrial Average dipped Monday, the first trading day of June, as global trade tensions increased. The 30-stock average lost 181 points, or 0.4%. The S&P 500 also pulled back 0.2%, while the Nasdaq Composite gained 0.2%. China pushed back against U.S. accusations that it had violated a temporary trade agreement. Instead, the country blamed Washington for failing to uphold the deal — a sign that negotiations between the world's two largest economies are deteriorating. Tensions reignited following a brief pause after U.S. Treasury Secretary Scott Bessent and Chinese Vice...
The Hang Seng fell 132 points or 0.6% to close at 23,158 on Monday, marking its second straight decline amid broad sectoral losses. Renewed Sino-U.S. trade tensions weighed on sentiment after China rejected President Trump's claims that it had violated a Geneva trade deal, calling the accusations "groundless" and vowing to take "forceful measures" in response. U.S. futures also dropped sharply after Trump announced a steel tariff hike to 50% starting Wednesday, with the European Commission warning of possible retaliation. However, markets trimmed earlier losses after Treasury Secretary...
European stocks started June in the red, with both the STOXX 50 and STOXX 600 falling nearly 0.6%, retreating after gains of around 4% in May. The decline comes amid escalating geopolitical tensions, with China accusing the US of violating their recent trade agreement, following President Trump's accusations last week that China had broken the deal. Also, Trump announced plans to double tariffs on steel and aluminum to 50% from 25%, a move that has drawn criticism from the EU. Meanwhile, traders are bracing for the ECB's monetary decision later this week, with expectations of another rate...
Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 1.32%. The best performers of the session on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 5.92% or 45.00 points to trade at 805.00 at the close. Meanwhile, Fujitsu Ltd. (TYO:6702) added 4.31% or 143.00 points to end at 3,461.00 and T&D Holdings, Inc. (TYO:8795) was up 4.10% or 136.00 points to 3,450.00 in late trade. The worst performers of the session were SUMCO Corp....
Hong Kong shares tumbled 507 points, or 2.2% to 22,774 in early trade on the first trading day of June, marking the second straight session of losses and hitting a three-week low. The selloff followed renewed U.S.-China trade tensions after Beijing today accused Washington of "seriously violating" a truce reached in May and vowed "strong and resolute measures" in response. This came after President Trump claimed Friday that China had "totally violated" the agreement, pointing to reduced rare earth exports. Meanwhile, U.S. futures slumped after Trump pledged to double steel tariffs to 50%,...