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Yahoo
6 days ago
- Business
- Yahoo
Stock markets dip as US inflation puts focus on Trump's tariffs
Most US and European share indices slid on Tuesday, as US inflation data indicated President Donald Trump's tariffs could be feeding into the American economy. In New York, the Nasdaq traded higher, propelled by buoyant news from tech darling Nvidia. But the blue-chip Dow and broader S&P 500 both struggled. The dollar gained ground as prospects of a US interest rate cut dimmed, while oil prices slipped. The US consumer price index for June showed inflation rose 2.7 percent compared with a year earlier. Though in line with economists' forecasts, the rate was above the Federal Reserve's two-percent target. Jochen Stanzl, an analyst at CMC Markets, said detail in the CPI report "points to a trend toward stagflation -- an unwelcome topic for investors in an increasingly overvalued market". Stephen Innes, managing partner at SPI Asset Management, said that "the CPI release showed some early signs of tariff pass-through but underlying inflation remains muted". Analysts said US inflation could pick up further in coming months, as businesses exhaust pre-tariff stockpiles and pass on their higher import costs to consumers. "Rising prices will make it harder for the Federal Reserve to cut interest rates and tougher for families living paycheck to paycheck," said Heather Long, chief economist at the Navy Federal Credit Union. Since April, the United States has imposed a baseline 10-percent tariff on goods imported from main trading partners, with steeper levies on steel, aluminium and cars. Trump has threatened 30-percent tariffs on European Union and Mexican goods from August 1 if they do not cut trade deals with Washington. - Tariff threat to Russia - Most Asian indices closed higher before the US inflation report came out, except for those in Shanghai and Mumbai. China and India are both big trading partners of Russia -- which Trump said would be hit with tariffs of up to 100 percent within 50 days if President Vladimir Putin did not end his war on Ukraine. China, which has negotiated a US tariff truce, had on Tuesday issued economic growth data that met expectations, largely thanks to an April-June export surge to get ahead of Trump's levies. Even though Russia is a major crude producer, oil traders bid prices lower, not higher, following Trump's announcement. "The fact that oil prices fell suggests investors are relieved that Trump has allowed sufficiently enough time for Putin to agree to a ceasefire," said Fawad Razaqzada, analyst at "They are also getting used to Trump threating tariffs, only to change his mind in the last minute and extend deadlines," he said. OPEC said in its latest monthly market report it was holding firm on its production forecasts for oil demand to rise by 1.3 million barrels in 2025 and again in 2026. "Continued robust global economic growth is expected... despite ongoing US-centred trade challenges and geopolitical uncertainties," it said. In corporate news, US banks JPMorgan Chase, Wells Fargo and Citi posted strong second-quarter results. And Nvidia's share price jumped after it said US export restrictions will be eased to allow it to sell its H20 artificial intelligence chips to China. - Key figures at around 1545 GMT - New York - Dow: DOWN 0.6 percent at 44,190.75 points New York - S&P 500: FLAT at 6,267.11 New York - Nasdaq Composite: UP 0.6 percent at 20,771.85 London - FTSE 100: DOWN 0.7 percent at 8,938.32 (close) Paris - CAC 40: DOWN 0.5 percent at 7,766.21 (close) Frankfurt - DAX: DOWN 0.4 percent at 24,060.29 (close) Tokyo - Nikkei 225: UP 0.6 percent at 39,678.02 (close) Hong Kong - Hang Seng Index: UP 1.6 percent at 24,590.12 (close) Shanghai - Composite: DOWN 0.4 percent at 3,505.00 (close) Euro/dollar: DOWN at $1.1615 from $1.1670 Pound/dollar: DOWN at $1.3393 from $1.3428 Dollar/yen: UP at 148.87 yen from 147.77 yen Euro/pound: DOWN at 86.73 pence from 86.88 pence Brent North Sea Crude: DOWN 0.4 percent at $68.97 per barrel West Texas Intermediate: DOWN 0.5 percent at $66.66 per barrel burs/rmb/rlp Sign in to access your portfolio
Al-Ahram Weekly
6 days ago
- Business
- Al-Ahram Weekly
Stock markets dip as US inflation puts focus on Trump's tariffs - Economy
Most US and European share indices slid on Tuesday, as US inflation data indicated President Donald Trump's tariffs could be feeding into the American economy. In New York, the Nasdaq traded higher, propelled by buoyant news from tech darling Nvidia. But the blue-chip Dow and broader S&P 500 both struggled. The dollar gained ground as prospects of a US interest rate cut dimmed, while oil prices slipped. The US consumer price index for June showed inflation rose 2.7 percent compared with a year earlier. Though in line with economists' forecasts, the rate was above the Federal Reserve's two-percent target. Jochen Stanzl, an analyst at CMC Markets, said detail in the CPI report "points to a trend toward stagflation -- an unwelcome topic for investors in an increasingly overvalued market". Stephen Innes, managing partner at SPI Asset Management, said that "the CPI release showed some early signs of tariff pass-through but underlying inflation remains muted". Analysts said US inflation could pick up further in coming months, as businesses exhaust pre-tariff stockpiles and pass on their higher import costs to consumers. "Rising prices will make it harder for the Federal Reserve to cut interest rates and tougher for families living paycheck to paycheck," said Heather Long, chief economist at the Navy Federal Credit Union. Since April, the United States has imposed a baseline 10-percent tariff on goods imported from main trading partners, with steeper levies on steel, aluminium and cars. Trump has threatened 30-percent tariffs on European Union and Mexican goods from August 1 if they do not cut trade deals with Washington. Tariff threat to Russia Most Asian indices closed higher before the US inflation report came out, except for those in Shanghai and Mumbai. China and India are both big trading partners of Russia, which Trump said would be hit with tariffs of up to 100 percent within 50 days if President Vladimir Putin did not end his war on Ukraine. China, which has negotiated a US tariff truce, had on Tuesday issued economic growth data that met expectations, largely thanks to an April-June export surge to get ahead of Trump's levies. Even though Russia is a major crude producer, oil traders bid prices lower, not higher, following Trump's announcement. "The fact that oil prices fell suggests investors are relieved that Trump has allowed sufficiently enough time for Putin to agree to a ceasefire," said Fawad Razaqzada, analyst at "They are also getting used to Trump threating tariffs, only to change his mind in the last minute and extend deadlines," he said. OPEC said in its latest monthly market report it was holding firm on its production forecasts for oil demand to rise by 1.3 million barrels in 2025 and again in 2026. "Continued robust global economic growth is expected... despite ongoing US-centred trade challenges and geopolitical uncertainties," it said. In corporate news, US banks JPMorgan Chase, Wells Fargo and Citi posted strong second-quarter results. And Nvidia's share price jumped after it said US export restrictions will be eased to allow it to sell its H20 artificial intelligence chips to China. Key figures at around 1545 GMT New York - Dow: DOWN 0.6 percent at 44,190.75 points New York - S&P 500: FLAT at 6,267.11 New York - Nasdaq Composite: UP 0.6 percent at 20,771.85 London - FTSE 100: DOWN 0.7 percent at 8,938.32 (close) Paris - CAC 40: DOWN 0.5 percent at 7,766.21 (close) Frankfurt - DAX: DOWN 0.4 percent at 24,060.29 (close) Tokyo - Nikkei 225: UP 0.6 percent at 39,678.02 (close) Hong Kong - Hang Seng Index: UP 1.6 percent at 24,590.12 (close) Shanghai - Composite: DOWN 0.4 percent at 3,505.00 (close) Euro/dollar: DOWN at $1.1615 from $1.1670 Pound/dollar: DOWN at $1.3393 from $1.3428 Dollar/yen: UP at 148.87 yen from 147.77 yen Euro/pound: DOWN at 86.73 pence from 86.88 pence Brent North Sea Crude: DOWN 0.4 percent at $68.97 per barrel West Texas Intermediate: DOWN 0.5 percent at $66.66 per barrel Follow us on: Facebook Instagram Whatsapp Short link:
Observer
11-07-2025
- Business
- Observer
Stocks mostly fall as Trump ramps up tariff threats
LONDON: Stock markets mostly retreated Friday as US President Donald Trump ramped up his trade war, threatening a higher blanket tariff and a 35-per cent levy on Canada. Trump dampened earlier optimism by firing off more than 20 letters to governments outlining new tariffs if agreements are not reached by August 1. Bitcoin meanwhile pushed on with its climb, reaching an all-time high above $118,000. The dollar was mostly higher against its main rivals, and oil prices gained. "The optimism from earlier in the week... is giving way to fears of an impending tariff surprise as the weekend approaches," said Jochen Stanzl, chief market analyst at CMC Markets. Wall Street's three main indices fell at the start of trading, with the S&P 500 and Nasdaq Composite coming off record-setting sessions. In Europe, where investors were awaiting news of Trump's new tariff level targeting the European Union, with a letter expected by the end of the week, the Paris and Frankfurt stock markets each dropped 0.8 per cent. "The fallout hasn't been more pronounced because the market still continues to view all of this as a point of negotiating leverage," said analyst Patrick O'Hare of Trump dialled up his trade war rhetoric on Thursday, warning that Canada faced a 35-per cent tax, while other countries would be handed blanket tariffs of up to 20 per cent, from the current 10 per cent. That came after he outlined plans to impose 50-per cent tariffs on copper imports, while threatening 200-per cent levies on pharmaceuticals, and hit Brazil with a new 50-per cent charge. The moves are the latest by the White House in a campaign it says is aimed at ending decades of the United States being "ripped off". Trump's initial bombshell announcement of tariffs on April 2 sent markets into turmoil until he paused them for three months, and the latest measures have had less impact. London's FTSE 100 and the pound retreated after data showed the UK economy unexpectedly shrank in May -- its second consecutive monthly decline. That followed a mixed session in Asia, where Hong Kong rose, Tokyo fell and Shanghai flattened by the close. Shares in BP jumped 2.4 per cent in London after the energy giant said it expected to report higher oil and gas production for its second quarter. - AFP
NDTV
11-07-2025
- Business
- NDTV
Stock Markets Fall As Trump Ramps Up Trade War
Stock markets mostly retreated Friday as US President Donald Trump ramped up his trade war, threatening a higher blanket tariff and a 35-percent levy on Canada. Trump dampened earlier optimism by firing off more than 20 letters to governments outlining new tolls if agreements aren't reached by August 1. Bitcoin meanwhile pushed on with its climb, reaching an all-time high above $118,000. The dollar and oil prices both gained. "The optimism from earlier in the week... is giving way to fears of an impending tariff surprise as the weekend approaches," said Jochen Stanzl, chief market analyst at CMC Markets. In Europe, Paris and Frankfurt stock markets each dropped around one percent. Investors were awaiting news of Trump's new tariff level targeting the European Union, with a letter expected by the end of the week. London's FTSE 100 and the pound retreated also after data showed the UK economy unexpectedly shrank in May -- its second consecutive monthly decline. That followed a mixed session in Asia where Hong Kong rose, Tokyo fell and Shanghai flattened by the close. Trump dialled up his trade war rhetoric Thursday, warning that Canada faced a 35 percent tax, while other countries would be handed blanket tariffs of up to 20 percent, from the current 10 percent. That came after he outlined plans to impose 50-percent tariffs on copper imports, while threatening 200 percent levies on pharmaceuticals, and hit Brazil with a new 50 percent charge. The moves are the latest by the White House in a campaign it says is aimed at ending decades of the United States being "ripped off". Trump's initial bombshell announcement of tariffs on April 2 sent markets into turmoil until he paused them for three months and the latest measures have had less impact. All three main indices on Wall Street rose Thursday, with the S&P 500 and Nasdaq hitting fresh peaks, hours after the FTSE 100 in London achieved an all-time high. Shares in BP jumped around two percent in London on Friday after the energy giant said it expected to report higher oil and gas production for its second quarter. But the FTSE 100 was down overall nearing midday.
The Hindu
11-07-2025
- Business
- The Hindu
Global stocks mostly fall as Trump ramps up tariff threats
Global stock markets mostly retreated on Friday (July 11, 2025) as U.S. President Donald Trump ramped up his trade war, threatening a higher blanket tariff and a 35% levy on Canada. Mr. Trump dampened earlier optimism by firing off more than 20 letters to governments outlining new tolls if agreements aren't reached by August 1. Bitcoin meanwhile pushed on with its climb, reaching an all-time high above $118,000. The dollar and oil prices both gained. "The optimism from earlier in the week... is giving way to fears of an impending tariff surprise as the weekend approaches," said Jochen Stanzl, chief market analyst at CMC Markets. In Europe, Paris and Frankfurt stock markets each dropped around 1%. Investors were awaiting news of Trump's new tariff level targeting the European Union, with a letter expected by the end of the week. London's FTSE 100 and the pound retreated also after data showed the UK economy unexpectedly shrank in May -- its second consecutive monthly decline. That followed a mixed session in Asia where Hong Kong rose, Tokyo fell and Shanghai flattened by the close. Mr. Trump dialled up his trade war rhetoric Thursday, warning that Canada faced a 35% tax, while other countries would be handed blanket tariffs of up to 20 percent, from the current 10 percent. That came after he outlined plans to impose 50-percent tariffs on copper imports, while threatening 200 percent levies on pharmaceuticals, and hit Brazil with a new 50 percent charge. The moves are the latest by the White House in a campaign it says is aimed at ending decades of the United States being "ripped off". Mr. Trump's initial bombshell announcement of tariffs on April 2 sent markets into turmoil until he paused them for three months and the latest measures have had less impact. All three main indices on Wall Street rose Thursday (July 10, 2025), with the S&P 500 and Nasdaq hitting fresh peaks, hours after the FTSE 100 in London achieved an all-time high. Shares in BP jumped around 2% in London on Friday after the energy giant said it expected to report higher oil and gas production for its second quarter. But the FTSE 100 was down overall nearing midday. Key figures at around 1040 GMT • London - FTSE 100: DOWN 0.6% at 8,923.68 points • Paris - CAC 40: DOWN 1.0% at 7,825.22 • Frankfurt - DAX: DOWN 1.1% at 24,193.54 • Tokyo - Nikkei 225: DOWN 0.2% at 39,569.68 (close) • Hong Kong - Hang Seng Index: UP 0.5% at 24,139.57 (close) • Shanghai - Composite: FLAT at 3,510.18 (close) • New York - Dow: UP 0.4% at 44,650.64 (close) • Euro/dollar: DOWN at $1.1692 from $1.1698 on Thursday • Pound/dollar: DOWN at $1.3540 from $1.3576 • Dollar/yen: UP at 146.80 yen from 146.19 yen • Euro/pound: UP at 86.36 pence from 86.16 pence • Brent North Sea Crude: UP 0.6% at $69.06 per barrel • West Texas Intermediate: UP 0.7% at $67.04 per barrel
