Tag Archives: Tariffs

A global rally for stocks loses steam amid questions about what will happen to Trump’s tariffs

A global rally for stocks loses steam amid questions about what will happen to Trump’s tariffs

NEW YORK (AP) — A big rally for stocks that began in Asia lost steam amid uncertainty about what will happen next after a U.S. court blocked many of President Donald Trump’s tariffs. The S&P 500 rose 0.4% Thursday after giving up most of an earlier gain. The Dow Jones Industrial Average rose 0.3%, and the Nasdaq composite added 0.4%. It’s a downshift after stocks initially leaped in Tokyo and Seoul, where markets had the first chance to react to Wednesday’s ruling by the U.S. Court of International Trade. The White House said it would appeal. Nvidia rallied after its profit report.… Continue Reading

S&P 500 rallies 2% as Wall Street’s roller-coaster ride whips back upward after Trump delays tariffs

S&P 500 rallies 2% as Wall Street’s roller-coaster ride whips back upward after Trump delays tariffs

NEW YORK (AP) — Wall Street rallied after President Donald Trump delayed a 50% tariff on goods coming from the European Union. The S&P 500 jumped 2% Tuesday. Its gains accelerated following a better-than-expected report on U.S. consumer confidence. The Dow Jones Industrial Average jumped 740 points, and the Nasdaq composite climbed 2.5%. They more than recovered their losses from Friday, when Wall Street’s roller-coaster ride dropped after Trump announced the tariffs on the European Union. Nvidia was the strongest single force pushing the S&P 500 higher. Treasury yields eased in the bond market.… Continue Reading

US consumer confidence rebounds after five straight months of declines amid tariff anxiety

US consumer confidence rebounds after five straight months of declines amid tariff anxiety

WASHINGTON (AP) — Americans’ views of the economy improved in May after five straight months of declines sent consumer confidence to the lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs. The Conference Board said Tuesday that its consumer confidence index rose 12.3 points in May to 98, up from April’s 85.7, its lowest reading since May 2020. A measure of Americans’ short-term expectations for their income, business conditions and the job market jumped 17.4 points to 72.8, but remained below 80, which can signal a recession ahead.… Continue Reading

Home Depot says it doesn’t expect to boost prices because of tariffs

Home Depot says it doesn’t expect to boost prices because of tariffs

Home Depot doesn’t expect to raise prices because of tariffs, saying it has spent years diversifying the sources for the goods on its shelves. Other companies, domestic and foreign, have warned customers that price hikes are on the way. Walmart said last week that it has already raised prices and will have to do so again in the near future. Late Monday, Subaru of America said it would raise prices on some of its most popular models by as much as $2,000. Home Depot says it doesn’t expect any single country outside of the U.S. will represent more than 10% of its purchases 12 months from now.… Continue Reading

Dow leaps 1,100 points and S&P 500 rallies 3.3% following a 90-day truce in the US-China trade war

Dow leaps 1,100 points and S&P 500 rallies 3.3% following a 90-day truce in the US-China trade war

NEW YORK (AP) — U.S. stocks are leaping after China and the United States announced a 90-day truce in their trade war. The S&P 500 jumped 2.6% Monday. The Dow Jones Industrial Average rose 951 points, and the Nasdaq composite gained 3.5%. Hopes for an economy less encumbered by tariffs also sent crude oil prices higher. The U.S. dollar strengthened against other currencies, and Treasury yields jumped on expectations the Federal Reserve won’t have to cut interest rates so deeply this year in order to protect the economy. Analysts warned conditions could still quickly change, as has so often happened in President Donald Trump’s trade wars.… Continue Reading

Wall Street and the dollar tumble as investors retreat further from the United States

Wall Street and the dollar tumble as investors retreat further from the United States

NEW YORK (AP) — Wall Street weakened as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order. The S&P 500 fell 2.4% Monday to drop 16% below its record set two months ago. The Dow Jones Industrial Average sank 2.5%, and the Nasdaq composite lost 2.6%. Big Tech stocks led the way lower ahead of earnings reports coming this week from Tesla and others. Perhaps of more concern, prices also sank for longer-term U.S. government bonds, while the value of the U.S. dollar slid against the euro and other currencies.… Continue Reading

Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now

Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now

NEW YORK (AP) — Stocks are rallying worldwide after President Donald Trump relaxed some of his tariffs, for now at least. The S&P 500 jumped 1.5% Monday. The Dow Jones Industrial Average climbed 441 points, and the Nasdaq composite rose 2%. Apple, Nvidia and other big technology companies led the way after Trump temporarily exempted smartphones, computers and some other electronics from some of his stiff tariffs. Perhaps more importantly for Wall Street, the bond market also showed signals of increasing calm. Treasury yields eased following last week’s sudden and scary rise, which seemed to rattle not only investors but also Trump himself.… Continue Reading

Trump team tries to project confidence and calm after his tariff moves rattled markets

Trump team tries to project confidence and calm after his tariff moves rattled markets

ATLANTA (AP) — White House advisers and Cabinet members are trying to project confidence and calm as they defend President Donald Trump’s economic policies after another week of reeling markets that saw the Republican administration reverse course on some of its steepest tariffs. For his part, Trump took an aggressive stance on his social media platform Sunday, disputing the idea that he will exempt any products from his sweeping tariff plans. The Trump team pressed its case during appearances on the Sunday news shows. Their explanations and Trump’s comments together reflected shifting narratives from a president who, as a candidate, had promised an immediate economic boost and lower prices but now asks American businesses and consumers for patience.… Continue Reading

Trump says he’s not backing down on tariffs, calls them ‘medicine’ as markets reel

Trump says he’s not backing down on tariffs, calls them ‘medicine’ as markets reel

WEST PALM BEACH, Fla. (AP) — President Donald Trump says he won’t back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S. He’s digging in on his plans to implement the taxes that have sent financial markets reeling, raised fears of a recession and upended the global trading system. Speaking to reporters Sunday aboard Air Force One, Trump said he didn’t want global markets to fall, but also that he wasn’t concerned about the massive sell-off either, adding, “sometimes you have to take medicine to fix something.” His comments came after Trump’s aides sought to soothe market concerns by saying more than 50 nations had reached out about launching negotiations to lift the tariffs.… Continue Reading

Dow drops 1,600 as US stocks lead worldwide sell-off after Trump’s tariffs cause a COVID-like shock

Dow drops 1,600 as US stocks lead worldwide sell-off after Trump’s tariffs cause a COVID-like shock

NEW YORK (AP) — Financial markets around the world reeled following President Donald Trump’s latest and most severe set of tariffs, and the U.S. stock market took the worst of it. The S&P 500 fell 4.8% Thursday, more than other major stock markets. The Dow Jones Industrial Average dropped 1,679 points, and the Nasdaq composite sank 6%. Little was spared as fear flared globally about the potentially toxic mix of weakening economic growth and higher inflation that tariffs can create. Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies fell. Even gold pulled lower.… Continue Reading

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