Euro drops to three-week low before auto tariff announcement
NEW YORK -The dollar hit a three-week high against the euro and gained on the yen on Wednesday as traders awaited an announcement from U.S. President Donald Trump on auto tariffs. Traders worry that the trade levies will dent U.S….
Trading Day: ‘Tariff Man’ flexes muscles, markets cower
ORLANDO, Florida – TRADING DAY Making sense of the forces driving global markets Nasdaq slumps 2%, tariff fears intensify It was really only a matter when, not if, tariff fears cast a pall over Wall Street and global markets again,…
Energy leads UK shares higher after finance minister trims spending plans
British equities closed higher on Wednesday, buoyed by rising energy stocks, after finance minister Rachel Reeves pushed back government spending plans in a long-anticipated budget update. Both the blue-chip FTSE 100 and the FTSE 250 index gained 0.3%. Facing a…
Wall Street ends down sharply on tariff worries; Nvidia and Tesla drop
Wall Street stocks ended sharply lower on Wednesday, dragged down by losses in Nvidia and Tesla as investors awaited information about long-promised U.S. tariffs on automotive imports. U.S. President Donald Trump was set to announce plans for car-industry tariffs at…
Stocks tumble, dollar climbs as new tariff announcement eyed
NEW YORK -Global stocks dropped for the first time in three sessions on Wednesday and the U.S. dollar resumed its ascent as investors awaited the next tariff announcement from U.S. President Donald Trump. Trump was scheduled to hold a press…
Tokyo’s Japan Activation Capital raises $512 million in second fund from domestic investors
TOKYO – Tokyo-based investment firm Japan Activation Capital (JAC) said on Thursday it had closed its second fund at 77 billion yen ($511.93 million), bringing the total amount it has raised from domestic institutional investors to about 210 billion yen….
China’s industrial profits fall in January-February as economic risks mount
BEIJING -China’s industrial profits slipped in the first two months of 2025, signalling a challenging period ahead for businesses as they navigate persistent deflationary forces and an escalating trade war with the United States. The economy got off to an…
Dollar mixed, Mexican peso and Canadian dollar drop on auto tariffs
NEW YORK -The dollar was mixed on Thursday as traders mulled how severe tariffs scheduled to be revealed by U.S. President Donald Trump next week are likely to be, while the Canadian dollar and Mexican peso weakened after Trump announced…
Oil approaches one-month highs as investors assess supply, trade war risks
NEW YORK – Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with new U.S. tariffs and their expected effect on the world’s economy. Brent crude futures gained 24 cents, or 0.3%, to settle…
Stocks down, gold hits record after Trump’s latest tariff volley
NEW YORKÂ -Global stocks fell for a second straight session and gold hit a record high on Thursday after the latest tariffs from U.S. President Donald Trump’s administration that expanded the trade war to autos. Trump on Wednesday announced 25%…
US auto tariffs shake global industry as higher prices, job losses loom
DETROIT/BERLIN – U.S. President Donald Trump’s announcement of a 25% tariff on auto imports rippled throughout the world on Thursday, as global carmakers warned of immediate price hikes and dealers raised fears of job losses in big auto-exporting countries, many…
Canada will respond to Trump auto tariffs with its own trade actions
Canadian Prime Minister Mark Carney said on Thursday that he would respond with unspecified trade actions if U.S. President Donald Trump imposes new auto tariffs that have expanded a global trade war and hammered stocks. Carney said he had not…
Trump’s Social Security chief backs down from ‘shutting down’ agency
WASHINGTON -The head of the U.S. Social Security Administration has backed down from “shutting down the agency” after a federal judge rebuked him for misinterpreting a court ruling that limited billionaire Elon Musk’s access to agency information. The agency’s leader,…
US equity funds’ weekly outflows surge to a three-month high on tariff concerns
US equity funds’ weekly outflows surge to a three-month high on tariff concerns(Reuters) – U.S. equity funds saw the largest net outflows in three months in the week through March 19 on worries about the impact of U.S. tariff policies…
Anti-Musk protesters gather outside Tesla dealership in Washington
Roughly 100 people waved signs and danced in protest outside a Tesla dealership in Washington on Saturday, angry at the electric vehicle maker’s billionaire CEO Elon Musk, who has led efforts to sharply cut the federal workforce. Cars driving past…
Some European officials weigh if they can rely on Fed for dollars under Trump
Some European central banking and supervisory officials are questioning whether they can still rely on the U.S. Federal Reserve to provide dollar funding in times of market stress, six people familiar with the matter said, casting some doubt over what…
Is the U.S. heading for a recession?
“The Entire World is RIPPING US OFF!!!” U.S. President Donald Trump recently wrote on his Truth Social platform. Last week, Trump threatened to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, opening a new front…
Hedge fund pessimism over Wall Street hits 5-year high, Goldman says
LONDON-Hedge funds added more bearish positions than bullish ones in March than at any time since 2020, doubling down on bets that U.S. stocks have further to fall, according to a Goldman Sachs note sent to clients on Thursday. Since…
Investors hopeful Wells Fargo asset cap will be removed in 2025
NEW YORK – Investors and analysts are more hopeful the asset cap on Wells Fargo will be lifted this year after the bank managed to close five regulatory actions in 2025, making its shares more attractive. Since January, the bank…
Hedge funds regain appetite for US stocks, feel full of Europe, Asia
NEW YORK -Global hedge funds started to add back U.S. equities to portfolios last week following a massive selloff in Wall Street’s major indexes, an early indication of optimism about the country. Goldman Sachs said in a separate note that…