The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as investors digested a wave of trade developments and corporate earnings. Optimism surrounding trade talks contributed to the rally, with President Trump scheduled to meet with European Commission President Ursula von der Leyen on Sunday amid hopes of a US-EU deal. Deals were also reached with Japan, Indonesia, and the Philippines ahead of the...
Asia-Pacific markets extended their sell-off Monday as fears over a global trade war sparked by U.S. President Donald Trump's tariffs fueled a risk-off mood. Japanese markets led losses in the region in early trade. The benchmark Nikkei 225 plunged 8.03% while the broader Topix index plummeted 8.64%. Over in South Korea, the Kospi index fell 4.34% at the open, while the small-cap Kosdaq fell 3.48%. Australia's S&P/ASX 200 declined 6.07% at the open. The benchmark slid into correction territory with an 11% decline since its last high in February, in its previous session. Futures for...
The Nikkei 225 Index plunged 8% to below 30,000 on Monday, hitting its lowest levels since October 2023 as the global selloff triggered by US President Donald Trump's aggressive tariffs and the resulting trade war intensified. Over the weekend, markets found little relief amid a lack of successful negotiation to lower or at least delay tariffs. The Trump administration also downplayed the market selloff and dismissed fears of inflation and recession, maintaining that tariffs would push through as planned. President Donald Trump stated on Sunday evening that he isn't deliberately causing the...
U.S. stocks extended their selloff on Friday after Fed Chairman Jerome Powell warned that the economic impact of an escalating trade war could be worse than expected, as fears of a trade war rattled markets. The S&P 500 plunged nearly 6%, the Dow dropped 2,230 points, and the Nasdaq dropped 5.8%, hitting its lowest level since May. Powell cited rising risks from inflation and slower growth, while reiterating a cautious, wait-and-see stance on interest rate cuts. Market anxiety increased after China's finance minister announced 34% tariffs on all U.S. imports, mirroring President Trump's...
European stock markets closed sharply lower on Friday, with investors still reeling from the scale of U.S. tariffs announced this week. The regional Stoxx 600 index closed down 5%, marking its worst weekly loss of the year, down 8.3% from the previous week. Banks fell 8.5% after a 5.53% drop on Thursday. The sector, once seen as vulnerable to slowing growth or recession, is now seen as a much stronger possibility for both the U.S. and global economies. Banks are also "one of the slowest assets to come forward in assessing global macro issues," Bank of America strategists said Friday....
The S&P 500 dropped 2.7%, the Dow tumbled 970 points, and the Nasdaq sank 3.1% on Friday, hitting their lowest levels since last August and extending the previous session's sell-off. The trade war escalated further as China's finance minister announced a 34% tariff on all US imports, mirroring the levy imposed by President Trump on Wednesday. Investor anxiety is mounting over the economic fallout, with many economists warning of higher prices, slower growth, and a potential recession. On the data front, payrolls rose way more than expected, continuing to point to a healthy labour...