Global stock markets mostly slipped Wednesday as investors digested conflicting signals from President Donald Trump about his coming wave of tariffs. In New York, the Dow was little changed but the wider S&P 500 and the tech-heavy Nasdaq were lower in midday deals.
Stay tuned with 24 News HD Android AppGlobal stock markets mostly slipped Wednesday as investors digested conflicting signals from President Donald Trump about his coming wave of tariffs. In New York, the Dow was little changed but the wider S&P 500 and the tech-heavy Nasdaq were lower in midday deals.
In Europe, Paris and Frankfurt closed down while London edged up as data showed an unexpected slowdown to UK annual inflation. With the White House's so-called"Liberation Day" on April 2 fast approaching, investors are bracing for a wave of sweeping levies on imports amid warnings of crippled global trade, recession and a fresh spike in inflation. But Trump has alternated between tough talk about imposing tariffs across the board to suggesting he may allow some carve-outs to spare US consumers the full brunt of their impact on prices."All the tariff talk uncertainty has led to a sharp drop in confidence," said David Morrison, analyst at Trade Nation. The president told Newsmax on Tuesday that he did not"want to have too many exceptions" but added:"I'll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people." The Conference Board reported Tuesday that its closely watched gauge of consumer confidence dived to its lowest level since 2021 -- during the Covid pandemic -- as concerns grow over higher prices. "Recent survey data has painted a gloomy outlook for the US economy. But this pessimism has yet to show up in hard data, such as unemployment, while corporate earnings continue to beat expectations," Morrison said. The figures come as the Federal Reserve re-evaluates its monetary policy in light of Trump's tariffs agenda, with some analysts warning it might have to hold off any interest rate cuts this year.While almost all European markets fell, defence stocks bucked the trend as one country after another pledges to boost military spending, with Spain and Sweden being the latest to do so Wednesday.London's stock market rose after news that the country's annual consumer inflation slowed to 2.8 percent in February from 3.0 percent in January. The market held onto its gains even after finance minister Rachel Reeves cut the country's growth forecast in half to one percent as she announced spending cuts, as she raised the outlook for the subsequent three years. "She appears to have done the trick of not unnerving investors further," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Trump's talk of tariff exemptions had earlier helped some Asian markets edge higher after recent slumps. Copper futures traded on New York's Comex exchange touched a record high after Trump said he could impose duties on imports of the commodity within weeks, leading some investors to shift supply to the United States to avoid any eventual levies.New York - S&P 500: DOWN 0.9 percent at 5,726.12London - FTSE 100: UP 0.3 percent at 8,689.59 Frankfurt - DAX: DOWN 1.2 percent at 22,839.03 Hong Kong - Hang Seng Index: UP 0.6 percent at 23,483.32 Pound/dollar: DOWN at $1.2897 from $1.2943Brent North Sea Crude: UP 1.2 percent at $73.88 per barrel
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump orders new tariff probe into US copper importsTrump orders new tariff probe into US copper imports
Read more »
Oil heads for first monthly drop since November as economic uncertainty weighsOil heads for first monthly drop since November as economic uncertainty weighs
Read more »
China targets US agricultural products over Trump tariff threat, Global Times saysAnalysts say Beijing still hopes to negotiate a truce with the Trump administration
Read more »
Oil set for biggest weekly drop since October on tariff uncertainty, supply gainsOil set for biggest weekly drop since October on tariff uncertainty, supply gains
Read more »
Oil eases on concerns about escalating tariff wars' impact on global economyOil eases on concerns about escalating tariff wars' impact on global economy
Read more »
Stocks slip in choppy trade as economic, tariff outlook eyedStocks slip in choppy trade as economic, tariff outlook eyed
Read more »