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Global markets: Dow, Nasdaq futures jump over 1% as Trump delays 50% tariffs on EU; DAX up 1.6%
Global markets: Dow, Nasdaq futures jump over 1% as Trump delays 50% tariffs on EU; DAX up 1.6%

Mint

time26-05-2025

  • Business
  • Mint

Global markets: Dow, Nasdaq futures jump over 1% as Trump delays 50% tariffs on EU; DAX up 1.6%

Global Markets: Dow Jones Futures, along with S&P 500 and Nasdaq, jumped more than 1 per cent on Monday, 26 May 2025, as the US President Donald Trump announced his move to delay the US tariffs on the European Union to July 2025. The European stock market indices also reacted positively to the development, rising on Monday. On Monday, 26 May 2025, President Donald Trump announced that the tariffs imposed on goods imported from the European Union (EU) had been delayed to 9 July 2025, from the previous effective date of 1 June 2025. Trump's announcement came early on Monday at 3:45 a.m. (IST). 'I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension — July 9, 2025 — It was my privilege to do so. The Commission President said that talks will begin rapidly. Thank you for your attention to this matter!' said Trump in his post on Truth Social. The US stock markets will be closed on Monday, 26 May 2025, for Memorial Day 2025, which honours military personnel who lost their lives while serving in the US Armed Forces. However, Trump's announcement fueled a rally in the US benchmark indices futures. On 26 May 2025, the Dow Jones futures were trading 1.08 per cent higher at 42,049 points. Other benchmark index futures like the S&P 500 futures were trading 1.2 per cent higher at 5,887.25 points on Monday. The futures for the Nasdaq 100 were also trading 1.4 per cent higher at 21,270 points, according to the data collected from at 4:23 p.m. (IST). On the global markets front, Germany's DAX index was trading 1.63 per cent higher at 24,015.59 points as of 12:52 p.m. (CEDT) on Monday, compared to 23,629.58 points at the previous market session. The French benchmark stock market index, CAC 40 Index, was trading 1.14 per cent higher at 7,822.81 points, compared to 7,734.40 points at the previous market session. Italy's FTSE MIB Index was also trading 1.20 per cent higher at 39,950.40 points as of 12:56 p.m. (CEDT) on Monday, compared to 39,475.36 points at the previous market session. Spanish benchmark equity index, the IBEX 35 Index was trading 0.97 per cent higher at 14,240.30 points, compared to 14,104.10 points in the previous market session. Investors are fueling the stock market rally after the optimistic sentiment, which rose as Trump announced postponing the effective date of his tariffs on the European Union, amid the ongoing trade war between the United States and other world nations. Read all stories by Anubhav Mukherjee

China urges U.S. to act 'responsibly' after Moody's downgrade
China urges U.S. to act 'responsibly' after Moody's downgrade

Yahoo

time20-05-2025

  • Business
  • Yahoo

China urges U.S. to act 'responsibly' after Moody's downgrade

-- China has urged the United States to adopt responsible economic policies in the wake of Moody's decision to strip the U.S. of its last triple-A credit rating. Speaking at a press briefing Monday, a spokesperson for China's foreign ministry called on Washington to take responsible policy measures to maintain the stability of the international financial and economic system and safeguard the interests of investors, Reuters reported. The comments come after Moody's downgraded the U.S. from 'AAA' to 'Aa1', citing mounting fiscal deficits and rising interest costs. The agency warned that continued political gridlock and a lack of fiscal discipline pose long-term risks to the country's financial stability. 'The first thought to come to mind is: what took you so long?' analysts at Vital Knowledge wrote, noting that Fitch made a similar downgrade in 2023 and S&P acted as far back as 2011. They pointed to the growing U.S. deficit—now unusually high for a full-employment, peacetime economy—as a key justification. Moody's had maintained a perfect rating on U.S. debt since 1917, making the downgrade historically significant. While the impact on Treasury markets may be limited in the short term, the symbolic loss of credibility raises fresh questions about U.S. fiscal governance. U.S. stock futures fell early Monday as investors reacted to Moody's decision to downgrade the nation's credit rating. As of 04:00 ET (08:00 GMT), Dow Jones Futures futures were down 398 points, or 0.9%. S&P 500 Futures dropped 70 points, or 1.2%, while Nasdaq 100 Futures slid 306 points, or 1.4%. Related articles China urges U.S. to act 'responsibly' after Moody's downgrade 'From Tariff Man to Global Salesman' Moody's downgrades U.S. Sovereign Credit Rating amid fiscal pressures Sign in to access your portfolio

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