US EditionStocks Waver Ahead of Fed Speech but EU Tariff Deal Lifts Europe
The 15% tariff agreement ends months of trade uncertainty and excludes wine and spirits, with ongoing negotiations for additional sectors, EU officials said.
- Major US stock indexes fell Thursday in New York ahead of Federal Reserve Chair Jerome Powell's Friday speech at the central bankers conference in Wyoming.
- The market decline followed uncertainty about whether the Fed will lower interest rates amid weaker employment data and mixed inflation reports.
- Last month, a tariff agreement was announced between the US and the EU that imposed a 15% levy on most European imports to the United States, with the exception of wines and spirits.
- EU Trade Commissioner Maros Sefcovic described the agreement as the best trade arrangement the US has offered any country, while emphasizing that discussions about reducing tariffs on wines and spirits remain ongoing.
- The stock market's cautious trading and the EU-US tariff agreement suggest investors await Powell's policy cues while European industries adjust to ongoing trade costs.
66 Articles
66 Articles
US stocks retreat ahead of Fed chair's speech
NEW YORK, United States — Major US stock indexes closed lower Thursday as traders girded for a key speech by Federal Reserve Chair Jerome Powell the following morning. They await hints on where interest rates might be headed. The Dow Jones Industrial Average dipped 0.3 percent to 44,785.50. The broad-based S&P 500 Index slid 0.4 percent to 6,370.17. The tech-heavy Nasdaq Composite Index dropped 0.3 percent to 21,100.31. READ: Asian markets cree…
Daily Journal
Stocks waver ahead of Fed speech but EU tariff deal lifts Europe
Global stock markets mostly fell Thursday ahead of a widely anticipated speech by the US central bank chief, although a deal on American tariffs for a swathe of EU goods gave a late-session boost to European markets.
After months of dispute, the EU Commission and the White House present a trade agreement. It establishes the well-known flat-rate US customs of 15 percent – and contains several delicate surprises.
The customs agreement, signed on Thursday, imposes a 15 percent tariff on European products, with the auto industry facing much higher tariffs.
The long-awaited trade agreement between the United States and the European Union has been announced, bringing with it a 15% tariff on pharmaceuticals imported from Europe.According to the original report, this movement has proved to be more manageable than some on Wall Street feared.Although 15% is not a small thing, the figure remained below the feared 20% that many expected to see.The winners of the announcementIn response to the agreement, m…
Europeans and Americans agree on details of the planned customs agreement. German car manufacturers react more easily, even though some things are still unclear. However, it seems certain that the EU pays a high price.
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