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Market watch: Asian stocks retreat as Donald Trump tariffs unsettle markets; oil slips amid supply, demand worries

Market watch: Asian stocks retreat as Donald Trump tariffs unsettle markets; oil slips amid supply, demand worries

Time of Indiaa day ago
Representative image (Picture credit: AP)
Asian equity markets slipped on Wednesday as rising global trade tensions, driven by fresh tariff threats from US President Donald Trump, dampened investor sentiment and triggered a cautious pullback from risk assets.
A regional index declined for the third time in four sessions, led by sharp losses in Hong Kong, while copper and oil markets reflected the broader market unease.
Hong Kong stocks fell as much as 1.2%, dragging the regional gauge down 0.3%. According to Bloomberg, shares in Japan rose modestly while Australian equities edged lower.
Wall Street futures were also under pressure, with S&P 500 index futures down 0.1% after a muted Tuesday session.
The latest market jitters stemmed from Trump's renewed determination to impose a 50% tariff on copper imports and a looming threat to expand levies on pharmaceuticals and semiconductors. The US President made it clear that the August 1 deadline for reciprocal tariffs was final, saying, 'No extensions will be granted.'
Benchmark copper futures fell 1.7% in London, paring back Tuesday's record rally on the Comex, where contracts had surged 17% after Trump's announcement.
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The premium between New York and London prices ballooned to nearly 24%, highlighting supply dislocation fears. 'The market's response… has been one of indifference,' said IG Australia analyst Tony Sycamore as quoted by Bloomberg, warning that traders may only react sharply if hard economic data weakens or inflation accelerates.
Oil markets also softened. Brent crude slipped 0.3% to $69.95 a barrel, while US West Texas Intermediate lost 0.4% to trade at $68.12.
According to news agency Reuters, investors are trying to assess the impact of Trump's trade policies on global demand. A record number of Americans, over 72 million, were expected to travel during the July 4 weekend, offering some hope for fuel demand.
Supply-side developments also weighed on sentiment. The US Energy Information Administration cut its 2025 output forecast to 13.37 million barrels per day, down from 13.42 million bpd, citing reduced drilling activity.
Meanwhile, OPEC+ is expected to greenlight a 548,000 bpd output boost for September.
However, actual increases have fallen short so far, with Saudi Arabia shouldering most of the additions.
Geopolitical risks added another layer of uncertainty. As per Reuters, four crew members on a Liberian-flagged bulk carrier were killed in an attack off Yemen, marking a second maritime security incident in a single day.
With rising tariffs, mixed data from China, where factory deflation persisted and consumer prices unexpectedly rose, and inflation concerns in focus, analysts say volatility is likely to persist across global markets.
UBS's Ulrike Hoffmann-Burchardi was quoted by Bloomberg as saying that while tariffs are likely to stay elevated, they are not expected to trigger a recession. She advises investors to 'phase into global equities or diversified portfolios' to ride out the turbulence.
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  • Time of India

Microsoft on how AI saved the company more than $500 million in 2024

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US stock market futures dip as Dow, S&P 500, Nasdaq weigh Trump's tariff shock against Nvidia's $4T rally
US stock market futures dip as Dow, S&P 500, Nasdaq weigh Trump's tariff shock against Nvidia's $4T rally

Economic Times

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  • Economic Times

US stock market futures dip as Dow, S&P 500, Nasdaq weigh Trump's tariff shock against Nvidia's $4T rally

Synopsis US stock market today opened slightly lower as Dow, S&P 500, and Nasdaq futures paused after a powerful tech rally led by Nvidia, which just hit a historic $4 trillion market value. Meanwhile, President Trump's new tariff threats—including a proposed 50% import tax on Brazil and extra tariffs on BRICS nations—are now in focus. As Wall Street prepares for Q2 earnings with Delta Airlines reporting first, investors are balancing excitement around AI stocks with global trade uncertainty. The Nasdaq hit a record high, but attention now turns to jobless claims and the Federal Reserve's next move on interest rates. Wall Street hit the pause button early Thursday as investors tried to digest two powerful, opposing forces—Donald Trump's aggressive new tariff threats and Nvidia's record-breaking market surge. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all edged lower in premarket trading, signaling a cautious open as the market weighs trade policy shocks against tech-driven optimism. US stock market today: Dow, S&P 500, Nasdaq futures pause as Trump tariff threats and Nvidia rally split investor focus- US stock market today opened cautiously as futures for the Dow Jones, S&P 500, and Nasdaq took a breather following a tech-driven rally led by Nvidia's historic $4 trillion milestone. Meanwhile, investors remain alert after fresh tariff threats from President Trump, who warned of sweeping trade penalties starting August 1. With earnings season kicking off and AI enthusiasm growing, Wall Street is juggling multiple signals heading into Thursday's session. Dow futures : -0.2% : -0.2% S&P 500 futures : -0.2% : -0.2% Nasdaq futures: -0.1% While all three indices closed higher on Wednesday—powered by Nvidia, Microsoft, and other tech giants—Thursday morning brought a more muted tone as markets seek clarity on policy direction. President Trump's latest tariff threats are shaking investor confidence. On Wednesday night, the administration proposed: A 50% tariff on copper imports starting August 1 Possible 200% duties on Brazilian pharmaceuticals Broader trade crackdowns involving the EU and India These fresh trade tensions are sparking worries about global supply chains and commodity inflation, especially in key industrial sectors like mining and energy. At the same time, Nvidia (NVDA) crossed a historic milestone, briefly touching a $4 trillion market cap, leading a mega-cap tech rally that helped the Nasdaq hit all-time highs. Several individual names are making big waves this morning: Delta Air Lines (DAL) : Surged 13% premarket after upbeat Q2 earnings and full-year guidance reaffirmation. : Surged after upbeat Q2 earnings and full-year guidance reaffirmation. MP Materials (MP) : Soared 41% following a Department of Defense deal to strengthen the U.S. rare-earth supply chain. : Soared following a Department of Defense deal to strengthen the U.S. rare-earth supply chain. WK Kellogg (KLG) : Rocketed 55% on reports of a potential $3 billion buyout by Ferrero. : Rocketed on reports of a potential $3 billion buyout by Ferrero. Freeport-McMoRan (FCX) and Southern Copper (SCCO) : Gained 2–3% on copper tariff optimism. and : Gained 2–3% on copper tariff optimism. Nurix Therapeutics (NRIX) : Up 17% after reporting blowout fiscal Q2 revenue of $44 million—well ahead of expectations. : Up after reporting blowout fiscal Q2 revenue of $44 million—well ahead of expectations. 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Current Level : Around 44,631 : Around 44,631 Change : Approximately +0.13% : Approximately +0.13% Day's Range : Between 44,565 and 44,702 : Between 44,565 and 44,702 52‑Week Range : 36,708 to 45,270 : 36,708 to 45,270 Volume : Around 6,500 contracts : Around 6,500 contracts Open Interest: Around 85,000 contracts Current Level : Slightly lower today : Slightly lower today Performance Change : –0.12% : –0.12% Daily Movement: Down about 5 points (~–0.08%) Current Level : Around 23,006 : Around 23,006 Change : –46.25 points or –0.20% : –46.25 points or –0.20% Day's Range : Between 22,976.5 and 23,050.25 : Between 22,976.5 and 23,050.25 52‑Week Range : 16,460 to 23,112 : 16,460 to 23,112 Volume : About 42,000 contracts : About 42,000 contracts 1‑Day Change : +0.32% : +0.32% Year-to-Date Return: +8.44% Dow futures are showing a minor dip, reflecting cautious sentiment following a strong tech-driven rally. are showing a minor dip, reflecting cautious sentiment following a strong tech-driven rally. 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Q2: What made Nvidia reach a $4 trillion market value? AI demand and strong investor confidence pushed Nvidia's stock to new highs.

India revises proposed retaliatory duties against US over steel, aluminium tariffs in WTO
India revises proposed retaliatory duties against US over steel, aluminium tariffs in WTO

Mint

time42 minutes ago

  • Mint

India revises proposed retaliatory duties against US over steel, aluminium tariffs in WTO

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