United StatesCurrency Dollar Falls amid Trade Concerns
The Dollar index dropped nearly 0.5% on Friday, on escalated trade tensions between the world’s two largest economies after US President Trump demanded companies to look for an alternative to China. This comes after Beijing announced it will impose additional tariffs on US imports worth about $75 billion and despite US Chair Jerome Powel said the Fed would act as appropriate to keep the current economic expansion.
42 hours ago
BrazilCurrency Brazilian Real Drops to 1-Year Low
The Brazilian real fell below 4.13 per dollar on Friday, its weakest level in almost a year, amid a further escalation in US and China trade tensions after Beijing vowed retaliatory tariffs on imports of US goods.
42 hours ago
United StatesStock Market US Stocks Plunge as Trade War Escalates
US stocks closed sharply lower on Friday, amid a renewed tariff battle between Washington and Beijing as US President Trump said he will respond further to China’s retaliatory tariffs and ordered American companies to find alternatives to China. The Dow Jones tumbled 623 points, or 2.4% to 25,629; the S&P 500 slumped 76 points, or 2.6% to 2,847; and the Nasdaq slid 240 points, or 3% to 7,752. Since the beginning of August, the Dow Jones lost more than 4%.
43 hours ago
Commodity Copper Prices Slump to Over 2-Year Low
Copper prices extended losses on Friday, hitting the lowest level since May 2017, after China announced a new round of retaliatory tariffs on about $75 billion of US goods. Prices were already under pressure after manufacturing PMI for the US came lower-than-expected on Thursday. Copper prices dropped as much as 1.2% to $2.51 per pound around 12:50 PM NY time.
46 hours ago
GermanyStock Market European Stocks End Lower on Renewed Trade Tensions
European stock markets finished lower on Friday, as an escalation in US-China trade tensions after Beijing announced it will implement retaliatory tariffs on $75 billion worth of US goods from September overshadowed the pledge to act as needed to continue expansion from Fed Chair Jerome Powell. The DAX 30 lost 154 points, or 1.2% to 11,612; the FTSE 100 retreated 33 points, or 0.5% to 7,095; the CAC 40 fell 62 points, or 1.1% to 5,327; the FTSE MIB slumped 343 points, or 1.7% to 20,474; and the IBEX 35 went down 67 points, or 0.8% to 8,650.
47 hours ago
Commodity Gold Rises on Powell Comments, Trade Pessimism
Gold prices edged up as much as 1% to $1513.3 an ounce around 10:30 AM NY time on Friday, after Fed Chair Powell speech regarding weaker global economic growth, geopolitical uncertainty and escalating trade tensions between Washington and Beijing. Meantime, Silver prices added more than 1.7% to $17.28 an ounce.
2 days ago