Markets Slide as Trump Tariffs Roil Trade; Gold Hits Record High
Reuters
Global markets plunged on Monday as Trump’s tariffs on Canada, Mexico, and China rattled investors, fueling fears of a trade war. A last-minute pause on Mexico’s tariffs helped limit losses, while gold hit a record high and U.S. factory activity returned to growth.
📉 Stock Market Impact
Wall Street drop: The S&P 500 fell 0.38%, while the Dow Jones recovered slightly, closing 0.01% higher.
Tech sector hit: The Nasdaq Composite lost 0.72%, reflecting broader weakness in technology stocks.
Europe’s worst session of 2025: The STOXX 600 plunged 0.87%, while the FTSEurofirst 300 dropped 0.81%.
Asia tumbles: Japan’s Nikkei 225 fell 2.66%, while the MSCI Asia-Pacific index slid 2.04%.
Reuters
💰 Gold Hits Record, Bonds and Currencies React
Gold soared to an all-time high of $2,819.50 per ounce, as investors sought safe-haven assets.
Dollar’s mixed performance: After an initial rise, the dollar index fell 0.51%, while the Mexican peso strengthened 1.14% following the tariff pause.
Euro slides: The euro dropped 0.73% to $1.0286, while the Canadian dollar weakened 0.22% against the U.S. dollar.
🛢️ Oil Prices Rebound, Bitcoin Slips
Crude oil gains: After initial losses, Brent crude rose 0.38% to $75.96 per barrel, while U.S. crude climbed 0.87% to $73.16 per barrel.
₿ Crypto declines: Bitcoin fell 0.91% to $101,215, while Ethereum plunged 17.13% to $2,749.05, extending a broader sell-off in digital assets.
U.S. Factory Activity Expands
📈 Manufacturing returns to growth: U.S. factory activity expanded for the first time since October 2022, signaling stronger industrial demand.
🔍 Federal Reserve impact: Analysts warn the data may delay rate cuts, as a stronger economy could fuel inflation concerns.
⚠️ Market Outlook
Analysts expect continued volatility across stocks, commodities, and currencies, with investors closely watching potential European retaliation and further White House trade moves.
21:30
Crypto Market
US banks eye crypto expansion as regulations ease
Top U.S. banks are quietly preparing to enter the crypto market through cautious pilot programs and partnerships, as regulators offer clearer signals. While enthusiasm grows, most lenders remain hesitant, seeking more clarity on rules before committing heavily.
08:43
Business News
Tesla’s Europe sales plunge 49% in April 2025
Tesla's sales in Europe plunged 49% in April, even as electric car demand surged, signaling growing trouble for the U.S. EV giant in a competitive and shifting market.
14:06
Australia's Bendigo and Adelaide Bank eases investor concerns with latest financial update
The bank's latest trading update has helped reassure analysts at Morgan Stanley, despite a disappointing first-half result in February.
22:30
Prices
Adidas and Puma may follow Nike in U.S. price hikes
Adidas and Puma are expected to raise prices in the U.S. after Nike increased footwear costs, as rising import tariffs push up expenses across the sportswear industry.
What is your opinion on this topic?
Leave the first comment