Another wild day on Wall Street: Stocks whipsaw on Trump's latest tariff threats
The pain continued for investors on Tuesday, with the Dow falling as much as 700 points after Trump threatened fresh tariffs on Canadian metal imports.
Euro buoyed by Ukraine ceasefire proposal, tariffs squeeze stocks
The euro was riding near five-month highs on Wednesday on Ukraine's readiness to accept a month-long ceasefire, while stocks whipsawed on back-and-forth U.S. tariff plans as levies on steel and aluminium imports kicked in. European equity futures jumped 1.1% and FTSE futures rose 0.5% on news the U.S. would restore military aid and intelligence sharing to Ukraine after Kyiv agreed to accept a U.S. ceasefire proposal. Russian Foreign Minister Sergei Lavrov said in an interview published on Wednesday, speaking in the context of a possible Ukraine peace deal, that Moscow will avoid compromises that would jeopardise people's lives, Russian agencies reported.
Dollar strengthens against peers as markets digest inflation data, trade tensions
The U.S. dollar strengthened against major currencies including the yen and the Swiss franc on Wednesday as data showed a slowdown in inflation although global trade tensions suggest that concerns about consumer prices and the economy will continue to weigh on markets. That report comes on the back of a trade brinkmanship between the U.S. and its trading partners, marked by President Donald Trump's unpredictable announcements on tariffs. In the latest episode, the European Union announced on Wednesday that it will impose counter tariffs on 26 billion euros ($28.39 billion) worth of U.S. goods from April, in response to blanket U.S. tariffs on steel and aluminium that came into force earlier in the day.
Oil up 2% on tighter U.S. supplies but tariff concerns loom
NEW YORK (Reuters) -Oil prices rose 2% on Wednesday, as U.S. government data showed tighter oil and fuel inventories than expected, though investors kept an eye on mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth. Brent futures rose $1.33, or 1.9%, to $70.89 a barrel at 10:55 a.m. EDT (1455 GMT), while U.S. West Texas Intermediate crude futures gained $1.45, or 2.2%, to $67.70 a barrel. "This evidences stronger demand and could see oil prices rise as a result."
It's getting harder for markets to ignore the weakening US consumer
After years of robust spending helped steer the US economy away from a recession, the consumer outlook is weakening — and investors are taking notice.
Crypto Sell-Off: 3 Cryptos That Are on Sale in 2025
The "Trump Bump" has turned into the "Trump Dump." Fears around U.S. President Donald Trump's tariff declarations, combined with recession fears, have been a potent double-whammy for both Nasdaq tech stocks and cryptocurrencies. Bitcoin (CRYPTO: BTC) is down 15% for the year, Solana (CRYPTO: SOL) is down 35%, and Ethereum (CRYPTO: ETH) is down 45%.
Gold Holds Gain as Markets Weigh Trade War, US Recession Risks
(Bloomberg) -- Gold held an advance, supported by haven demand after Wall Street was whipsawed by President Donald Trump’s on-off tariff plans and his latest comments downplaying fears of a recession.Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionWhere New York City's Zoning Reform Will Add HousingOpen Philanthropy Launches $120 Million Fund To Support Y
Dogecoin slides to $0.16 as memecoin frenzy subsides
This week, Dogecoin plummeted to $0.14 — its lowest price in recent months.
Billionaire Agarwal may invest in US oil service firms to expand Cairn output
India's largest privately owned oil and gas company Cairn India said it may invest in U.S. service and engineering companies as part of a $5 billion plan to grow output five-fold in the coming years, its chairman said on Tuesday. "I want to spend $5 billion on developing my project to get to 500,000 barrels per day production," billionaire Anil Agarwal told Reuters in an interview. Cairn, part of Vedanta Limited, produces 100,000 bpd today.
Citi says US exceptionalism has paused under Trump — and investors should load up on China stocks
After struggling in 2024, China's stock market is roaring as its AI trade soars. Meanwhile, US peers are hobbled by growth concerns and waning enthusiasm.