A global stock selloff extended to a sixth day - the longest losing streak since September 2023 - as President Donald Trump announced new tariff rates and two days of solid megacap tech earnings failed to lift sentiment. The MSCI All Country World Index slid 0.1%, while a regional stock gauge for Asia also fell for a sixth straight session — its longest losing streak this year. South Korean shares slumped 3.4%. Contracts for the S&P 500 fell 0.2% and those for Europe declined 0.4%. Trump announced a slew of new tariffs, including a 10% global minimum and 15% or higher duties for countries with trade surpluses with the US. The dollar traded steady on Friday after posting its first monthly gain since Trump took office in January. The Taiwan dollar fell for a seventh consecutive day, the longest losing streak since June 2023, as the island got a 20% tariff rate. The Swiss franc edged lower after Trump put a 39% levy on the country’s exports to the US. The moves signaled that concerns over tariffs and economic growth were starting to outweigh the AI-driven optimism that has buoyed megacap tech stocks. While artificial intelligence remains a pillar of long-term bullishness, investors are bracing for potential trade disruptions as the US and key partners weigh new levies. The White House issued a statement just hours before midnight, the deadline Trump set last month after pausing his country-based tariffs for a second time to allow for negotiations. It was unclear exactly when the new rates would take effect. Some of the tariffs were expected, such as a 25% levy on Indian exports. Others included charges of 20% on Taiwanese products, 39% on Swiss goods and 30% on South African products. Thailand and Cambodia, two countries that were said to have struck a last-minute deal, received a 19% duty. Taiwan and the US haven’t yet held a summary meeting due to scheduling conflicts and the tariff rate of 20% is temporary, according to a statement from Taiwan’s cabinet. Taiwan will work to reach an agreement with the US as soon as possible to seek a further reduction in reciprocal tariffs. US stocks fell Thursday, erasing an initial advance on tech earnings that sent Microsoft Corp. above $4 trillion in market value. Apple Inc. shares rose in after-market trading following a sales beat, while those for Amazon.com Inc. fell as its outlook underwhelmed. Meanwhile, Trump sent letters to 17 of the largest pharmaceutical companies in a bid to lower prices, weakening their shares Thursday. Trump is also asking bank chief executive officers for their pitches on monetizing mortgage giants Fannie Mae and Freddie Mac, including a major public offering of stock, according to people familiar with the matter. The market’s attention will soon turn to Friday’s jobs report for July, which is forecast to show companies are becoming more deliberate in their hiring. Employment likely moderated after a June increase, while the unemployment rate is seen ticking up to 4.2%. US After Hours Busy day for earnings; AAPL +2.6%, RDDT +17.9%, TREE +7.8%, FIVN +7.4%, WEAV +7.1%, APPF +6.6% on upside; AMZN -7%, COIN -8.3%, KLAC -0.9% on downside
Nikkei -0.69% Hang Seng -0.65% CSI -0.58% Shanghai -0.41% Shenzen -0.30%
Eur$ 1.1475 CNH 7.2138 CNY 7.2093 JPY 150.52 GBP 1.3201 CHF 0.8140 RUB 80.5408 TRY 40.6692 WTI$ 69.35 +0.13% Gold 3,294 +0.11% BTC 115,738 -0.65% ETH 3,688.35 -1.26%
S&P -0.19% Nasdaq -0.23% EuroStoxx -0.62% FTSE -0.29% Dax -0.66% SMI
Macro :
- *TRUMP TO IMPOSE 39% TARIFF ON GOODS FROM SWITZERLAND
- Cambodia to Scrap Tariffs, Buy Boeing Jets in US Trade Deal
- Trump Demands Drug Companies Slash US Prices in Blow to Industry
- Trump Demands Drug Companies Slash US Prices in Blow to Industry
- Point72 Preps First Venture Fund for Clients, Focuses on Defense
- Taiwan Says 20% US Tariff Not Final, Also Holds Talks on Chips
Keep an eye on :
Keep an eye on :
- AC FP : Hilton Grand Vacations Shares Drop as 2Q Revenue Misses
- AAPL US : Apple Rises After 3Q iPhone, China Sales Top Estimates (1)
- ATO FP : Atos 1H Operating Margin 2.8% Vs. 2.3% Y/y
- CS FP : AXA Buys 51% of Prima for Consideration of €500M (Axa Said to Near €1 Billion Deal for Italy’s Prima Assicurazioni)
- CS FP : AXA 1H Underlying Profit Beats Estimates
- BAYN GY : Bayer Lifts Outlook on Drugs, Adds €1.7 Billion to Legal Costs
- BA US : Boeing Threatens to Strip $5,000 Bonus If IAM Rejects Offer
- BRNL NA : Brunel 2Q Revenue EU302.8M Vs. EU344.6M Y/y
- CPR IM : Campari 1H Adjusted Ebit Beats Estimates
- CLNX SM : Cellnex 1H Adjusted Ebitda Matches Estimates Cellnex Says Profit Rises as It Develops New Sites
- COFA FP : Coface 2Q Net Income EU62.1M Vs. EU73.8M Y/y
- DTG GY : Daimler Truck Cuts Guidance After US Truck Sales Flag
- EMN US : Eastman Chemical Falls After 2Q Adjusted EPS Misses Estimates
- ENEL IM : Enel 1H Adjusted Net Income Beats Estimates
- ENEL IM : Enel Buys Spain’s Cetasa to Increase Local Wind Capacity
- ENEL IM : Enel Search for Brownfield Deals in EU and US Enters Final Stage
- ENEL IM : Enel Says Spain Blackout Impacts Costs Due to Ancillary Services
- ENGI FP : Engie 1H Ebit Excluding Nuclear EU5.10B Vs. EU5.62B Y/y, Engie 1H Ebit Excluding Nuclear EU5.10B Vs. EU5.62B Y/y
- EQT SS : EQT’s Zelestra Signs Its Largest Order Ever for India Wind Farms
- ERICB S : Ericsson in Talks to Invest in Intel Standalone Network Business
- EBS AV: Erste Raises FY ROTE Guidance, Sees NII Growth on Loans (1)
- ENX FP : Euronext 2Q Adjusted Ebitda Beats Estimates
- EVK GY : Evonik Sees FY Adjusted Ebitda Low End of EU2B to EU2.3B
- SFER IM : Ferragamo 1H Ebitda Misses Estimates
- FER SM : Heathrow Submits Proposal for Privately Financed Third Runway
- FIG US : Figma’s 250% IPO Pop Gives It Edge in Creative AI Software Fight
- FSLR US : First Solar Says Trump’s Tax and Spending Law Makes It Stronger
- Froneri (Ice Maker) Goldman Sachs Set to Buy Into Froneri at €15b Valuation: FT
- FUR NA : Fugro 2Q Adjusted Ebitda Misses Estimates
- G1A GY : GEA Group Hits Record, Boosts FY Adjusted Ebitda Margin Forecast
- GBLB BB : GBL 1H Cash Profit EU320M Vs. EU333M Y/y
- HMSO LN : Hammerson Offering of 48.3m Shares Prices at GBp287/Share
- HOLN SW : Kalahari Cement Offers to Buy 29.2% EAPC of Kenya for KES718.7m
- IBE SM : Cox ABG Agrees to Purchase Iberdrola’s Mexican Energy Business
- IAG LN : IAG 2Q Revenue Beats Estimates
- IR US : Ingersoll Rand Boosts FY Adjusted Ebitda Forecast
- INTC US : Ericsson in Talks to Invest in Intel Standalone Network Business
- JMT PL : J. Martins 2Q Ebitda Beats Estimates
- KER FP : Kering to Award €20 Million Welcome Bonus to New CEO Luca de Meo
- MBTN SW : Meyer Burger Seeks Extension to Disclose 2024 Annual Report
- NESN SW : Goldman Sachs Set to Buy Into Froneri at €15b Valuation: FT
- PLTR US : Palantir Technologies Awarded Army Deal Worth Up to $10 Billion
- PIRC IM : Pirelli 2Q Revenue Meets Estimates, Pirelli Sees Italy Decision on China Role in September: Radiocor
- RNO FP : Renault Buys Nissan’s Remaining Stake in Joint Plant in Chennai
- ROKU US : Roku’s ‘Blowout’ Report Underscores Tailwinds: Street Wrap
- SGO FP : Saint-Gobain Maintains FY Operating Margin Forecast
- TGYM IM : Technogym Shares Rise to a Record as Revenue Beats Estimates
- TEP FP : Teleperformance Forecasts FY Results
- UMG NA : UMG 2Q Ebitda Misses Estimates
- ULVR LN : Unilever Shares Fall as Investors Digest Mixed 2Q: Street Wrap
- UMI BB : Umicore 1H Adjusted Ebitda Beats Estimates
- VSAT US : Activist investor pushes Viasat to split broadband and defence units
- VIRI FP : Viridien 2Q Segment Revenue $274M Vs. $258M Y/y
- VIV FP : Vivendi 1H Adjusted Net Income EU54M Vs. EU141M Y/y
- VIV FP : Vivendi 1H Adjusted Net Income EU54M Vs. EU141M Y/y
- WT US : WisdomTree Assets Under Management Beats Estimates
- XPEV US : XPeng July Vehicle Deliveries 36,717 Units Vs. 11,145 Y/y