US EditionStocks lose ground amid inflation concerns, trade war worries
- On Friday, Asian stocks declined, safe-haven gold reached record highs, and oil prices eased as U.S. President Donald Trump's announcement of a 25% tariff on auto imports intensified global trade war concerns.
- The tariffs, due to take effect next week, sparked criticism from politicians and industry leaders worldwide, with warnings of likely price increases, particularly impacting the economies of Japan and South Korea where the auto industry is a pillar.
- Spot gold climbed to $3,079.5 per ounce, hitting an all-time high of $3,077.44 earlier in the session, driven by safe-haven buying amid uncertainty surrounding the tariffs, while other precious metals like silver, platinum and palladium also saw gains.
- Analysts like Thierry Wizman from Macquarie anticipate that tariffs will restrain growth and produce inflation, while Richmond Federal Reserve President Tom Barkin stated the Fed’s current monetary policy is appropriate, though uncertainties remain high.
- In response to the tariffs, some automakers, including Volvo, Volkswagen's Audi, Mercedes-Benz, and Hyundai, are planning to relocate portions of their production, while Ferrari will raise prices up to 10% on some models, and governments from Ottawa to Paris are threatening retaliation.
53 Articles
53 Articles
Stocks lose ground amid inflation concerns, trade war worries
NEW YORK/LONDON : Safe-haven gold hit a fresh record high on Friday as an index of global shares traded lower, weighed down by worries over a looming trade war sparked by tariff decisions from U.S. President Donald Trump.U.S. traders had new sticky inflation data to grumble about [.N] but it was Trump's 2
Crypto Daybook Americas: Altcoins Slide, Gold Shines as Trump Tariffs Spur Flight to Safety
By Francisco Rodrigues (All times ET unless indicated otherwise)The crypto market is extending yesterday's slide as investors anticipate the impact of President Donald Trump’s reciprocal tariffs, set to come into effect on April 2, and key macroeconomic data due later Friday.Bitcoin (BTC) has lost 2.5% in the past 24 hours, which seems pretty staid when compared with an almost 6% in slide in ether (ETH), 5.5% in XRP and 7% in dogecoin (DOGE). Th…
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