21:43
Global Markets React to Escalating U.S.-China Tariff War
The ongoing trade war, fueled by sweeping tariffs imposed by U.S. President Donald Trump, continues to disrupt global markets.
US investors brace for more volatility ahead of monday trading open
Reuters
U.S. investors are bracing for further market turbulence as Monday’s trading open approaches following last week’s steep selloff triggered by President Donald Trump’s new tariff announcement.
The aggressive tariff measures sent shockwaves through Wall Street, with the S&P 500 index falling 10.5% over two days and wiping out approximately $5 trillion in market value – the largest two-day decline since March 2020.
The recent selloff, which saw the S&P 500 slide more than 17% from its February 19 all-time closing high, has pushed the benchmark index dangerously close to bear market territory, defined by a 20% decline. Futures are set to open at 1800 ET (2200 GMT) on Sunday, providing a preview of what could unfold in Monday’s session.
“The bull market is dead,” said Mark Malek, chief investment officer at Siebert Financial. “We might see some gains in the next few days, but for now they’re not going to be sustainable.” Malek’s caution comes as the tariffs coincide with the onset of the first-quarter earnings season, further dampening market sentiment.
Despite the grim outlook, some traders remain optimistic that the market could stage an up day at some point this week. “Sometime this week it’s probably inevitable that we will have an up day,” said Steve Sosnick, chief investment strategist at Interactive Brokers. However, Alex Morris, chief investment officer at F/m Investments, warned, “We may see a day this week where screens are green, but any lasting rally may not arrive for three or four weeks. At that point, people will start saying we’ve taken enough air out of the balloon.”
On Sunday morning talk shows, top economic advisers for President Trump attempted to frame the tariffs as a strategic repositioning move. Treasury Secretary Scott Bessent told NBC’s “Meet the Press” that there was “no reason” to anticipate a recession, even as market analysts expressed concerns that the tariffs could have far-reaching consequences for both the U.S. and global economies.
As global trading partners react and additional reciprocal tariffs come into play, investors are preparing for a period of heightened uncertainty. The coming week is expected to be critical for gauging whether the market can recover from the recent declines or if further volatility will set in.
18:30
European pharma companies warn Trump's tariffs could expedite shift to US
Top European pharmaceutical companies have warned European Commission President Ursula von der Leyen that looming U.S. tariffs could accelerate an industry-wide shift from Europe to the United States unless swift regulatory reforms are enacted.
16:00
Pakistan - USA
Pakistan, US discuss trade, security, and regional stability in high-level phone call
Pakistan’s deputy prime minister and foreign minister Mohammad Ishaq Dar and U.S. secretary of state Marco Rubio held a phone conversation on Monday, focusing on bilateral ties, economic cooperation, and regional security, including Afghanistan.
15:35
China rejects Trump's tariff threat, vows to 'fight till the end'
China has condemned US President Donald Trump's latest tariff threat, vowing to retaliate if Washington follows through with a proposed 50% hike on Chinese imports, as tensions between the world’s two largest economies continue to escalate.
10:42
tariffs
Musk appeals to Trump to reverse tariffs, Washington Post reports
Tech billionaire Elon Musk, CEO of Tesla, made direct appeals to U.S. President Donald Trump over the weekend to reverse newly imposed tariffs, according to a report from the Washington Post.
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