Asian shares snapped a multi-day losing streak amid increased volatility ahead of President Donald Trump’s tariff rollout plan. A regional gauge gained as much as 1.1% with stocks in Taiwan and South Korea rising the most. European equity-index futures rose while contracts for US slipped, showing markets remain under pressure. Gold hit a record high on demand for haven assets while the dollar strengthened marginally against most of the Group-of-10 currencies. Traders got further details on when Trump will announce his reciprocal tariff plan — 3pm on Wednesday at an event in the White House Rose Garden — but the extent of his levies remain unclear. Ahead of the upcoming announcement, investors have refrained from taking large positions amid concerns how the tariffs will impact economic growth and inflation in the world’s largest economy. The president has touted his April 2 announcement as a “Liberation Day,” heralding the start of a more protectionist policy meant as retribution against trading partners he has long accused of “ripping off” the US. Trump has already placed levies on Canada, Mexico and China — the US’s three largest trading partners — as well as automobiles, steel and aluminum. Import taxes on copper could come within several weeks. Trump has also threatened duties on pharmaceutical, semiconductor and lumber imports. After the measures are unveiled, there could be an extended period of negotiation between the US and major trading partners, and it has the potential to keep this volatility going for longer than market expects, said Sat Duhra, a portfolio manager at Janus Henderson Investors in Singapore. In European news, several European Central Bank officials are still wavering on whether to cut interest rates, according to people familiar with the matter. The rising price of store cupboard staples and alcoholic drinks has lifted UK food inflation to a nine-month high. In geopolitical news, Trump said he believed Russian President Vladimir Putin would follow through on striking a ceasefire agreement and accused Ukraine of attempting to renegotiate an economic deal with the US.
Global markets are set for more volatility after US shares notched their worst quarter compared to the rest of the world since 2009. It was the first time since the onset of the pandemic in March 2020 that bonds rose and stocks fell in a three-month period. The dollar, long a go-to hiding place during market selloffs, suffered the worst start to a year since 2017. In Australia, the central bank kept its key interest rate unchanged in a widely expected decision, saying it wants to see more evidence that inflation is moving sustainably back to target before easing further. The Australian dollar edged higher. In commodities, oil steadied after jumping on Monday as Trump suggested that the US may work to curtail crude shipments from Russia. Bullion inched above $3,133 an ounce for the first time, following a 1.4% surge in the previous session. US After Hours PVH +15.8% up big on earnings and repurchase plan; LPRO -12.3% falls on quarterly results and new CEO announcement
Nikkei -0.02% Hang Seng +0.19% CSI -0.09% Shanghai +0.23% Shenzen +0.30%
Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P -032% Nasdaq -0.39% EuroStoxx +0.40% FTSE +0.41% Dax +0.45% SMI -0.11%
Macro :
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- OCC Withdraws Climate Risk Management Principles for Large Banks
- Trump Administration to Review Billions in Grants to Harvard
- Trump Says Automakers Will Likely Return to 2020 Emission Rules
- Finma Deputy CEO Birgit Rutishauser to Step Down on April 30
Keep an eye on :
Keep an eye on :
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- ALGM US : Onsemi Is Said to Add Morgan Stanley to Aid Allegro Pursuit
- AMZN US : Amazon-Backed Nuclear Firm, Dow Seek to Build Reactor in Texas
- AMD US : AMD Powers Oracle Cloud With New Epyc Chips Promising Major Boost In Performance
- AML LN : Aston Martin Clarifies Take-Private Comment Wasn’t Formal Offer
- BAVA DC : Bavarian’s Freeze-Dried Smallpox Vaccine Formula Gets US FDA OK
- BIG LN : Big Technologies Fires CEO Sara Murray, Delays FY Results
- BA US : Stuck NASA Astronaut Says Boeing Committed to Starliner Craft
- CABK SM : Apollo, KKR to Move to Next Round in Bidding for CaixaBank Loans
- CVX US : Chevron Sells 70% of East Texas Gas Assets to Tokyo Gas, CCI (1)
- DOV IM ! doValue Gets New Servicing Mandates in Cyprus for €350m
- DSFIR NA : DSM-Firmenich Starts Buyback of Ordinary Shares for up to €580M
- DD US : DuPont Is Said to Consider Sale of Kevlar, Nomex Safety Brands
- ENAV IM : Enav FY Total Revenue Matches Estimates
- FGR FP : Eiffage to Buy HSM Offshore Energy, No Terms Given: Statement
- FFARMS DC : Constantinsborg Withdraws Voluntary Cash Offer for FirstFarms
- FM CN : First Quantum Agrees to End, Halt Arbitration Over Panama Mine
- GLEN LN : Shell Completes Sale Singapore Oil Assets to Glencore-Chandra
- GT US : Goodyear Seen as Winner in Tariff War, Deutsche Bank Says (1)
- ICAD FP : Icade Appoints Bruno Valentin as CFO Starting April 7
- IPS FP : Ipsos Has Entered Into Exclusive Talks to Buy The BVA Family
- IPS FP : Ipsos Has Entered Into Exclusive Talks to Buy The BVA Family
- LYV US : Trump Says to Sign Order Aimed At Tackling Ticket Scalping
- ML FP : Michelin’s TBC to Divest Midas Franchise Portfolio to Mavis
- PKN PW : Orlen Restates 2024 Results, Sees No Impact on Dividend
- PKTM AV : Pierer Mobility Parent Sells €50m Convertible Bond to Bajaj
- PTKM AV : Pierer Mobility Says Finance Secured for KTM Production
- PVH US : Calvin Klein Owner PVH Soars as FY Adjusted EPS Outlook Beats, PVH intends to enter into $500 million accelerated share repurchase agreements
- CFR SW : Alison Loehnis to Leave Yoox Net-a-porter Group After 18 Eventful Years
- SDZ SW : Sandoz Signs New $2B Revolving Credit Line, Issues Bonds
- SBBB SS : SBB Proposes Two New Board Members; Johansson to Leave Board
- Sesame AI : Sequoia in Talks to Back Oculus Co-Founder's AI Voice Startup
- SKAB SS : Skanska Gets US Order Worth About SEK4.5b
- SHCO US : Soho House 4Q Revenue Meets Estimates
- SHEL LN : Shell Completes Sale Singapore Oil Assets to Glencore-Chandra
- 9984 JP : SoftBank Leads $40b OpenAI Funding Round, to Syndicate $10b
- STLA US : Stellantis Shift to Hybrids Causes Production Delays in Europe
- STLA US : Trump Met Earlier Today With Stellantis Chief Elkann: ABC
- STMPA FP : STMicroelectronics and Innoscience sign GaN technology development and manufacturing agreement
- TEL2B SS : Tele2 Names Peter Landgren Permanent Group CFO
- TGS NO : TGS Start Multiclient Long Offset OBN Project in Gulf of America
- 7203 JP : TMC Soars as Reuters Reports Possible Deep-Sea Mining Order
- 8301 JP : Tokyo Gas to Buy Texas Shale Stake From Chevron, Nikkei Says
- X US : Nippon Steel’s Mori to Meet With Howard Lutnick Tues.: Semafor
- DG FP : Vinci Gets €150M Contract to Build Transmission Lines in Brazil
- DG FP : Vinci Gets €150M Contract to Build Transmission Lines in Brazil
- VOW GY : VW’s Seat, Cupra CEO Wayne Griffiths Steps Down From Brands (1)