Reported 3 days ago
US stocks faced a dramatic decline on Friday, with the Dow plunging by over 2,200 points as China retaliated against President Trump's tariffs, escalating a global trade war. This tit-for-tat has raised fears of a recession, with the S&P 500 losing $5.06 trillion in value over two days. Despite a slight recovery from initially low points following news of potential tariff negotiations with Vietnam, fears drove investors to safe havens like gold and government bonds, contributing to a market sentiment heavily impacted by tariff anxiety.
Source: YAHOO
Reported 3 days ago
In March, the U.S. economy added 228,000 jobs, surpassing expectations and indicating a resilient labor market amid economic uncertainties. The growth was particularly strong in the services sector, healthcare, and transportation. Despite this positive news, concerns about new tariffs and potential impacts on hiring and inflation loom large, leading some economists to predict a dampening effect on the job market in the coming months. The unemployment rate ticked up to 4.2%, reflecting more people entering the labor force, while wages saw a slight easing in growth.
Source: YAHOO
Reported 3 days ago
The US stock market saw a disastrous day on Friday as the Dow Jones Industrial Average plummeted over 2,200 points, marking its steepest drop since 2020. This plunge followed retaliatory tariffs imposed by China in response to President Trump's recent tariffs, leading to fears of an escalating trade war and potential recession. The broader S&P 500 and tech-heavy Nasdaq Composite also suffered significant losses, with both indexes entering correction and bear market territory respectively, igniting investor panic and a rush to safer government bonds.
Source: YAHOO
Reported 3 days ago
On April 4, 2025, the S&P 500 index saw a sharp decline of 6.0%, following China's counter-tariff measures in response to President Trump's import duties. The trade tensions impacted various sectors, particularly oil and technology, resulting in significant drops in stock values, including a 16.0% plunge for GE HealthCare. While some sectors like homebuilders saw gains due to falling interest rates, the overall market sentiment remained negative amidst fears of a slowing global economy.
Source: YAHOO
Reported 3 days ago
Economist Joe Brusuelas from RSM cautions investors that the current market sell-off, driven by President Trump's tariffs, bears resemblance to the turmoil of late 2007 and early 2008 when hedge funds began to collapse. In a discussion, he highlights systemic risks similar to past crises and suggests that intervention, possibly from influential figures like Warren Buffett or policymakers, will be necessary to stabilize the situation.
Source: YAHOO
Reported 3 days ago
As the new earnings season approaches, analysts have significantly lowered their earnings estimates for S&P 500 companies. A recent FactSet analysis shows that more companies are projecting first-quarter results below analysts’ expectations, raising concerns about the health of the U.S. economy amidst market volatility. Interestingly, the financial sector is the only sector to see an increase in its full-year earnings per share estimate.
Source: YAHOO
Reported 3 days ago
Nvidia, Apple, and Tesla witnessed dramatic stock declines on Friday, contributing to the broader sell-off of the 'Magnificent Seven' as an intensifying trade war led to widespread selling on Wall Street. With Nvidia dropping over 7% and Tesla plummeting more than 10%, the Nasdaq Composite entered bear market territory. This sell-off followed China’s announcement of retaliatory tariffs against U.S. goods in response to President Trump's import levies. Analysts are warning that such tariffs could lead to a global recession and devastate the tech sector.
Source: YAHOO
Reported 3 days ago
Global hedge funds and leveraged ETFs rapidly sold over $40 billion in stocks after President Trump's unexpected announcement of increased tariffs, pushing S&P 500 companies to lose more than $4 trillion in market value. Major financial institutions like JPMorgan and Goldman Sachs noted a significant shift toward bearish positions, with substantial selling primarily in financial and tech sectors, while only defensive sectors like real estate saw buying activity. The market volatility has prompted hedge funds to unwind positions to mitigate risks.
Source: YAHOO
Reported 3 days ago
Delta Air Lines is set to report its Q1 2025 earnings, but analysts express growing caution about travel demand amid economic uncertainty. Despite a generally bullish outlook with nine 'buy' and one 'hold' rating, Delta's stock has fallen 46% from its February peak. Expectations for a conservative forecast in Q2 and adjusted earnings of $0.41 per share reflect concerns about consumer sentiment, as analysts anticipate a challenging earnings season with reduced full-year guidance.
Source: YAHOO
Reported 3 days ago
President Trump has signed an executive order allowing TikTok an additional 75 days to secure a buyer for its US assets, preventing the platform's shutdown. In his announcement, Trump stated that significant progress has been made toward a deal, although ongoing negotiations with TikTok's parent company, ByteDance, have yet to yield an agreement. Various potential buyers are emerging, including Oracle, which sees this as an opportunity to expand its data center business amidst escalating tariffs on China.
Source: YAHOO
Reported 3 days ago
Economists whose research was cited by the Trump administration to support its new tariffs express confusion and frustration. Many argue that their work was misapplied and highlight flaws in the administration's calculations, suggesting a lack of rigor in formulating such significant trade policies. As concerns rise over the administration's approach, some economists advocate for a more analytical strategy to address trade imbalances.
Source: YAHOO
Reported 3 days ago
Amazon could endure a significant annual profit loss of $5 billion to $10 billion due to new tariffs imposed by President Trump, according to Goldman Sachs analyst Eric Sheridan. The tariffs, effective April 5, are expected to increase Amazon's merchandise costs by 15% to 20%. China has retaliated with its own tariffs, further impacting Amazon's stock, which has dropped nearly 7% since the announcement. Sheridan predicts that Amazon will explore ways to mitigate these costs, including negotiations with vendors and adjusting pricing strategies.
Source: YAHOO
Reported 3 days ago
U.S. President Donald Trump's new tariffs have triggered a global sell-off in equities, leading to a significant slowdown in mergers and acquisitions (M&A) and initial public offerings (IPOs). Companies like Klarna and Chime have pulled back on their offerings, while a London private equity firm abandoned a deal due to the uncertainty created by these tariffs. The situation has raised concerns over potential recessions and has made financing and valuations more difficult, prompting most firms to delay major investment decisions until market conditions stabilize.
Source: YAHOO
Reported 3 days ago
President Trump's recent imposition of significant tariffs, dubbed the 'Liberation Day', has triggered a sharp downturn in the economy, reminiscent of historical policy blunders like the Smoot-Hawley tariff. Analysts warn that these tariffs are leading to lower profits, higher inflation, and rising unemployment, ultimately harming the US economy that was previously recovering well from the COVID-19 pandemic. With retaliatory measures from trading partners, particularly China, the likelihood of a recession looms larger, as Trump's stance on trade deficits continues to provoke concern among experts.
Source: YAHOO
Reported 3 days ago
Oil futures hit multiyear lows following China's retaliatory tariffs against the U.S., raising concerns about decreasing demand amid an escalating trade war. West Texas Intermediate dropped over 7% to $61.99 per barrel, while Brent futures fell more than 6% to $65.58. Analysts warn that prolonged tariffs could lead to a U.S. and global recession, as increased oil production from OPEC+ adds further pressure on prices.
Source: YAHOO
Reported 3 days ago
Wall Street is grappling with significant stock market losses following President Trump's aggressive tariffs, which have prompted retaliatory measures from China. The latest developments have led to fears that the S&P 500 could face a steep decline, potentially leading to a recession. With markets experiencing a $2.5 trillion drop and strategists lowering their year-end forecasts, the prospect of ongoing tariff turmoil and trade escalations looms over investors.
Source: YAHOO
Reported 3 days ago
The US stock market experienced a severe downturn as the Dow Jones Industrial Average plummeted over 2,200 points and the Nasdaq entered bear market territory, following China's announcement of retaliatory tariffs against US products. This surge in trade-war tensions has heightened concerns about inflation and a potential recession, coinciding with Federal Reserve Chair Jerome Powell's warning about the economic impact of these tariffs.
Source: YAHOO
Reported 3 days ago
On April 4, oil prices fell significantly amid fears of decreasing demand, while Boeing shares declined due to China's new tariffs. In contrast, GameStop's stock rose after CEO Ryan Cohen invested an additional $10.8 million in the company by acquiring more shares. The market sentiment is heavily influenced by trade tensions and new job data, as investors react to ongoing developments.
Source: YAHOO
Reported 3 days ago
Nintendo has announced a delay in preorders for its new Switch 2 console, initially set to start on April 9, due to the impact of President Trump's tariffs on products manufactured in China and Vietnam. The console, which is priced at $449 and scheduled for release on June 6, faces significant tariff increases that could affect its sales. Despite the preorder postponement, Nintendo will still launch the console as planned and is looking to enhance the gaming experience with new features and titles.
Source: YAHOO
Reported 3 days ago
Following President Trump's announcement of new tariffs, stock markets experienced a significant downturn. Mary Ann Bartels, chief investment strategist at Sanctuary Wealth, suggests that the market might not have reached its lowest point yet. For more insights on recent market developments, watch the related video.
Source: YAHOO
Reported 3 days ago
President Trump announced he will sign an executive order extending TikTok's deadline to find a buyer by 75 days, as negotiations with potential purchasers like Amazon and Walmart continue. Emphasizing the importance of tariffs for national security, Trump expressed a desire to work in good faith with China to finalize the deal, which is crucial given that earlier legislation could ban TikTok if it remains under Chinese control. The move follows a bipartisan push to address concerns about data privacy and security.
Source: YAHOO
Reported 3 days ago
In February, Warren Buffett explained Berkshire Hathaway's substantial cash reserve of $334 billion, emphasizing a preference for equities over cash. Now, amid a turbulent market environment and looming tariff threats from Trump, Buffett's previous justification may no longer be necessary. His cautious approach has proven beneficial, with Berkshire stock rising over 12% this year while the S&P 500 has fallen. As uncertainties grow, Buffett highlights the need for capital deployment over saving in the economy, advocating for a more active engagement in investing.
Source: YAHOO
Reported 3 days ago
The Bank of Canada is likely to reduce interest rates more drastically as US tariffs cause global market upheaval and Canadian job losses rise, with recent data indicating a loss of 62,000 full-time positions in March alone. While forecasts suggest a potential drop in the policy rate from 2.75% to 2%, inflation concerns arising from the ongoing trade war may restrict the extent of these cuts. As market confidence wanes, the Canadian government seeks to manage retaliatory measures against US tariffs while the central bank prepares for potential challenges in an uncertain economic landscape.
Source: YAHOO
Reported 3 days ago
Berkshire Hathaway issued a statement claiming that all reports of comments made by Warren Buffett on social media platforms, including X, are false. This response follows a post shared by Donald Trump's account, which falsely attributed statements to Buffett regarding the president's economic actions. Social media rumors have frequently targeted Buffett with false claims, and he previously stated he would not endorse any political candidates after being the subject of fraudulent rumors.
Source: YAHOO
Reported 3 days ago
President Trump's recent implementation of tariffs has led to significant market instability and fears of a global trade war, with China announcing a 34% tariff on US goods in retaliation. Trump has remained steadfast in his approach and vowed to never change his policies, despite the potential economic consequences. As trading partners respond with their countermeasures, the US stock market has experienced its worst sell-off since 2020, raising concerns about inflation and economic growth.
Source: YAHOO