Reported 10 days ago
Oil prices have fallen to a four-year low under $60 a barrel due to heightened trade tensions between the US and China, triggered by aggressive tariffs imposed by the Trump administration. The global energy demand outlook has worsened, prompting major banks to halve their forecasts for oil consumption growth this year. The oil market is also showing signs of oversupply, with a notable drop in prices across various commodities, while analysts warn that further declines could be in store.
Source: YAHOO
Reported 10 days ago
China's commerce ministry has imposed restrictions on 18 U.S. defense firms in retaliation for President Trump's new 50% tariff on Chinese imports. Twelve companies have been added to a control list prohibiting exports of dual-use items, while six firms were classified as 'unreliable entities' due to military ties with Taiwan, facing bans on import-export activities in China. This is part of broader trade tensions, with China also increasing its tariffs on U.S. goods, raising the total additional duties to 84%.
Source: YAHOO
Reported 10 days ago
US mortgage rates have dropped to their lowest since October, following a rally in government bonds linked to escalating trade tensions, which has led to a surge in home purchase applications and refinancing. The average rate on a 30-year mortgage fell to 6.61%, contributing to a 35% increase in refinancing activity, while applications for home purchases rose over 9%, indicating strengthened demand amidst concerns about potential economic slowdowns due to rising tariffs.
Source: YAHOO
Reported 10 days ago
Allspring Global Investments' Bryant VanCronkhite advises investors to focus on investing in companies poised to benefit from economic recovery rather than trying to time the market. He emphasizes the importance of a long-term view, suggesting sectors such as homebuilding and healthcare as potential opportunities as the market adjusts to consumer and business uncertainties.
Source: YAHOO
Reported 10 days ago
President Trump announced that long-awaited tariffs on pharmaceuticals will be introduced shortly, indicating his intent to pursue more sector-specific tariffs amid the ongoing global trade tensions. He emphasized the need to boost domestic pharmaceutical production, claiming that the U.S. market advantage will draw companies back. While the announcement follows other tariffs on steel and aluminum, details remain sparse, leading to uncertainty about the potential impacts on various pharmaceutical companies.
Source: YAHOO
Reported 10 days ago
Elon Musk has publicly challenged President Trump's trade approach, particularly over tariffs that Musk argues hurt Tesla’s competitive edge. The tension escalated after Musk criticized Trump's trade advisor, Peter Navarro, and expressed a desire for zero tariffs between the U.S. and Europe. While both share concerns about global trade practices, their proposed solutions starkly contrast, with Musk advocating for free trade and Trump maintaining a tariff-focused stance.
Source: YAHOO
Reported 10 days ago
Samsung SDI, the South Korean battery manufacturer, has reduced the price of its new shares by 14% to 146,200 won ($98.41) due to the impact of volatile global markets resulting from U.S. tariff concerns. This move comes as the company aims to raise 2 trillion won ($1.4 billion) to fund projects, including a joint venture with General Motors. The recent market instability has prompted various companies in Asia to rethink their fundraising strategies.
Source: YAHOO
Reported 11 days ago
President Trump has implemented significant tariffs, including a 104% duty on Chinese goods, heightening the global trade war and causing major disruptions in stock markets worldwide. The S&P 500 has suffered steep losses, nearing a bear market, as fears of recession grow. Despite signaling potential negotiations with affected countries, Trump’s tariffs threaten to increase everyday prices for American consumers, raising concerns about the long-term economic impacts.
Source: YAHOO
Reported 11 days ago
The International Monetary Fund has reached a preliminary agreement with Argentina for a $20 billion bailout, supporting President Javier Milei's efforts to stabilize the country's economy through strict austerity measures. This deal, pending final approval, comes at a crucial time as Argentina faces dwindling foreign reserves and rising inflation. While Milei cuts state bureaucracy and spending, critics argue that the economic pain is felt most by the poor, with protests against pension cuts increasing. The agreement is seen as a vital step towards Argentina's economic reform and recovery.
Source: YAHOO
Reported 11 days ago
Japanese Finance Minister Katsunobu Kato announced that upcoming trade negotiations with the United States may include discussions on foreign exchange rates. The talks, which could occur during Kato's expected visit to Washington later this month, aim to address various economic concerns, particularly in light of President Trump's focus on the U.S. trade deficit. Analysts suggest that Japan may face pressure to strengthen the yen, which has appreciated against the dollar this year. Additionally, Kato is anticipated to play a crucial role in these discussions alongside the appointed trade negotiator, Economy Minister Ryosei Akazawa.
Source: YAHOO
Reported 11 days ago
Asian stock markets fell sharply as President Trump's 104% tariffs on China took effect, triggering a selloff in Treasuries and raising concerns about potential recession risks. The U.S. dollar weakened against safe-haven currencies while oil prices plummeted nearly 4%. Analysts warned that escalating tariffs could lead to a significant downturn in the global economy, with the S&P 500 experiencing one of its largest losses in recent history.
Source: YAHOO
Reported 11 days ago
South Korea has announced emergency measures to support its auto industry hit by a new 25% tariff on imported vehicles imposed by the US. The measures include financial assistance, tax reductions, and expanded subsidies to ensure domestic demand remains strong and to mitigate potential losses. The government aims to bolster negotiations with the US to avoid disadvantageous treatment compared to other allies and is encouraging automakers to explore growing markets in developing regions.
Source: YAHOO
Reported 11 days ago
Former President Donald Trump stated that he warned Taiwan Semiconductor Manufacturing Company (TSMC) they would face a tax of up to 100% if they did not establish factories in the United States. During a Republican event, Trump criticized the Biden administration for providing significant funding to TSMC's U.S. operations, asserting that he only threatened taxation as an incentive for domestic investment.
Source: YAHOO
Reported 11 days ago
Japan's Finance Minister Katsunobu Kato announced that the country will not use its U.S. Treasury holdings as leverage against President Trump's tariffs on Japanese imports. Kato emphasized that these holdings are primarily managed for potential future exchange-rate interventions, not for diplomatic purposes. He dismissed suggestions from lawmakers to sell off these assets as a countermeasure, noting the risks involved in altering Japan's foreign reserves, which total approximately $1.27 trillion.
Source: YAHOO
Reported 11 days ago
The dollar declined against the yen and Swiss franc amid fears over U.S. tariffs on China, which drove the yuan to an all-time low. President Trump's impending 50% tariff increase raised concerns about a potential recession, leading investors to seek safe-haven currencies. The dollar fell to 145.23 yen and 0.8430 Swiss franc, while market expectations for rate cuts by the Federal Reserve grew.
Source: YAHOO
Reported 11 days ago
Oil prices saw a significant drop on Wednesday, falling nearly 4% to their lowest levels in over four years, due to rising demand concerns linked to escalating tariffs between the U.S. and China. Brent crude futures fell to $60.44 per barrel, while U.S. West Texas Intermediate dipped to $57.12. The trade tensions have raised fears of a possible global economic recession, jeopardizing China's oil demand growth. As the situation develops, analysts predict further declines in oil prices.
Source: YAHOO
Reported 11 days ago
Bank of Japan Governor Kazuo Ueda stated that the central bank will closely examine the impact of U.S. tariffs on Japan's economy and prices while making monetary policy decisions. He highlighted the growing uncertainties due to these tariffs and affirmed that past decisions to raise interest rates were based on the need to achieve sustainable growth and maintain inflation targets.
Source: YAHOO
Reported 11 days ago
Asian shares fell sharply on Wednesday, reacting to the implementation of new U.S. tariffs, including a staggering 104% tax on Chinese imports. Following a significant drop on Wall Street, Japan's Nikkei 225 plunged nearly 4%, with losses also observed in South Korea, New Zealand, and Australia. The uncertainty surrounding President Trump's trade policies has led to increased volatility in the markets, as analysts warn that prolonged high tariffs could trigger a recession.
Source: YAHOO
Reported 11 days ago
Asian shares continue to fall sharply following another decline on Wall Street, with Japan's Nikkei index dropping nearly 4%. The downturn reflects ongoing market uncertainties.
Source: YAHOO
Reported 11 days ago
A curated photo gallery from the Associated Press showcases traders at the Cboe Global Markets in Chicago as the world observes the implementation of Trump's new tariffs on April 8, 2025.
Source: YAHOO
Reported 11 days ago
The S&P 500 is on the verge of entering bear market territory, having fallen 19% from its peak, while the Nasdaq-100 has officially entered a bear market with a 21.5% decline. This decline is attributed to political factors, specifically President Trump's tariffs, differing from past downturns driven by economic issues. Investors are cautiously hopeful for a recovery, dependent on political developments.
Source: YAHOO
Reported 11 days ago
Japan's Nikkei share average fell sharply on Wednesday, mirroring declines in Wall Street amid worries about slowing economic growth due to the escalating trade war between the U.S. and China. The index decreased by 2.62% to 32,147.04, recovering from an earlier drop of almost 4%, while the Topix fell 2.1%. Investors are uncertain about further declines, although recent lows may appear attractive. The technology sector led losses, and a stronger yen against the dollar impacted exporters negatively.
Source: YAHOO
Reported 11 days ago
The International Monetary Fund has announced a preliminary agreement with Argentina for a $20 billion bailout to assist the nation's struggling economy.
Source: YAHOO
Reported 11 days ago
The Asian Development Bank (ADB) has warned that the full implementation of U.S. tariffs could reduce growth in developing Asia by nearly one percentage point by 2026. The ADB's latest report predicts a growth deceleration to 4.9% in 2025 and 4.7% in 2026, with significant influences from a projected slowdown in China and trade tensions. While South Asia is expected to experience a growth uptick, Southeast Asia may face reduced momentum.
Source: YAHOO