Asian stocks edged down as traders grappled with how to position themselves in the countdown to President Donald Trump’s sweeping tariffs announcement. A regional gauge declined as indexes in Japan and South Korea dropped, while Hong Kong fluctuated. Treasury yields advanced after a multi-day drop as traders weighed the odds of Federal Reserve policy easing. US and European equity-index futures fell, indicating stocks may remain under pressure. The dollar was little changed against its major peers and gold traded just short of its record.
Trump’s deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalizing the size and scope of the new levies he is slated to unveil. That unpredictability has shaken markets, prompted economists to cut their growth forecasts and forced central bankers to factor in the potential inflationary impact of import costs. The tariffs will take immediate effect after they are announced in the event that’s due to start from 4 p.m. New York time on Wednesday. Trump is set to impose so-called reciprocal tariffs and other levies on what he has labeled “Liberation Day” — a move expected to cover a broader swath of trade than the 1930 Smoot-Hawley duties that have long served as a cautionary tale about protectionism. It’s part of Trump’s wider project to dismantle the global trading system the US helped build out of that era’s wreckage, on his belief that Americans got a raw deal. Tariffs and retaliation will take place until the middle of the year and eventually “some deals are going to be struck,” Hartmut Issel, head of APAC equities and credit at UBS Wealth Management, said in a Bloomberg TV interview. “So negotiations, discussions and then finally some solutions are also on the table, we think for the second half.” Some investors see an opportunity in the current environment. Shifting some investment outside the US is one, Ali Dibadj, CEO of Janus Henderson Investors, said in a Bloomberg TV interview. “We see enormous opportunity in Europe” due to supply chain changes and political developments, he said. Goldman Sachs picked the yen as the top hedge against US recession and risks from tariffs.
Rising potential for a US recession has Pacific Investment Management Co. touting the attractiveness of “stable sources of returns” in global bonds. The bond manager warned that Trump’s aggressive trade, cost-cutting and immigration policies stand to slow the world’s biggest economy by more than previously expected. In commodities, oil paused last month’s rally as traders positioned themselves for the tariff announcements. US After Hours NCNO -25.7% down sharply on earnings/guidance; TTEC +20.2% higher as it's ready to engage on takeover offer.
Nikkei +0.33% Hang Seng +0.01% CSI -0.05% Shanghai +0.06% Shenzen +0.12%
Eur$ 1.0790 CNH 7.2788 CNY 7.2706 JPY 149.90 GBP 1.2915 CHF 0.8839 RUB 84.5022 TRY 37.9837 WTI$ 71.18 -0.03% Gold 3,116 +0.10% BTC 84,200 -1.23% ETH 1,860 -2.73%
S&P -0.14% Nasdaq -0.14% EuroStoxx -0.42% FTSE -0.35% Dax -0.34% SMI -0.41%
Macro :
- Fauci’s Successor Put on Leave as RFK Jr. Reshapes Agencies
- China Says US Must Remove Extra Tariffs for Fentanyl Talks
- Strategists Cut S&P 500 Forecasts, But Still Expect a Rally
- Carney Says Canada to Retaliate If US Proceeds With More Tariffs
- Space Junk Problem Got Much Worse in 2024, European Agency Warns
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus Delivered About 70 Jets in March: Reuters
- AIR FP : Airbus Sells AviChina Stake in Block for $144m: Terms
- ALV GY : Allianz Places €1.25b, Buys Back €647m of Subordinated Bonds
- PRO IM : Banca Profilo’s Independent Board Members Resign Over Governance
- BAKKA NO : Bakkafrost Prelim 1Q Farming Harvest in Faroes Island Beats Est
- BAKKA NO : Bakkafrost Prelim 1Q Farming Harvest in Faroes Island Beats Est
- GLEN LN :
- GRF SM : Brookfield Restarts Acquisition Talks With Grifols: Confidencial
- GTT FP : GTT Gets Order for Tank Design of Two Very Large Ethane Carriers
- IBAB BB : IBA to Supply Proteus One to Taiwan Hospital; No Terms
- OR FP : L’Oréal Mandates Investment Services Provider for Share Buyback
- MAERSKB DC : AP Moller Holdings Offers to Buy Svitzer in $1.3 Billion Deal
- MBG GY : Mercedes Weighs Pulling US Entry-Level Cars Over Trump Tariffs
- META US : Meta’s Deluxe Glasses With Screen Will Show Photos, Use Gestures
- MOL HB : Mol Gains After Board Recommends 10% Rise in Dividend
- NDX1 GY : Nordex Gets Two Orders Totaling 750MW in Turkey
- PAL AV : Palfinger Plans Treasury Share Placement to Fund Expansion
- PRX NA : Just Eat Holder BDL Capital Says Prosus Bid Undervalues Co.
- REN PL : Portuguese Electricity Demand Rose 2.8% in March, REN Says
- SPM IM : Saipem Gets New Offshore Contracts for About $720M
- SAN FP : Sanofi Granted FDA Orphan Drug Status for Rilzabrutinib
- SCHP SW : Schindler Gets Surrey Langley Skytrain Elevators Contract
- STLA IM : Italy March New Car Sales Rise 6.22% Y/y
- STLA IM : Banco Inbursa to Sell 49.9% of STM Financial to Stellantis Unit
- SVITZR DC : APMH Offers DKK285/Share in Cash for Svitzer: M&A Snapshot
- WNS US : WNS Holdings Rises as Reuters Reports It’s Exploring a Sale
- VLA FP : Valneva Chikungunya Vaccine Authorized in EU for Age 12, Above
- DGFP : Vinci Mandates Investment Services Provider for Share Buyback
- WBD US : Ringier Axel Springer Polska, CVC May Bid for Warner’s TVN: PB
- WPP LN : WPP Drop Sees Media Miss Broader Rebound: Stoxx 600 Sector Wrap