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 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...
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 Nikkei 225 Index edged up 0.1% to around 36,830, while the broader Topix Index gained 0.8% to 2,692 on Wednesday, as Japanese stocks rebounded from multi-month lows amid improving risk sentiment. However, investor concerns lingered over US President Donald Trump's tariff policies and recession risks in the world's largest economy. Domestically, data revealed that sentiment among large manufacturing firms turned negative in the first quarter, highlighting ongoing economic challenges. In corporate news, Nissan Motor climbed 0.8% after announcing that CEO Makoto Uchida will step down on...
Shares in Hong Kong added 33 points or 0.1% to 23,813 in a volatile trading session on Wednesday morning after a muted close the day before. A modest rise in US futures supported sentiment after a weak day on Wall Street overnight ahead of CPI prints later today. Traders also digested reports that Ukraine had agreed to an immediate 30-day ceasefire with Russia during talks with the U.S. in Saudi Arabia. In China, the annual parliamentary gathering concluded Tuesday, approving the central budget for 2025 and adopting a resolution on the 2024 work. Further gains were tempered, however, by...