Global stocks drop ahead of Trump auto tariff announcement
- Global stock markets mostly declined as investors awaited an announcement on auto tariffs from US President Donald Trump, with all major indices closing lower.
- White House Press Secretary Karoline Leavitt stated that Trump would announce new tariffs on the auto industry at 4:00 PM local time.
- Consumer confidence in the US dropped to its lowest level since 2021, as reported by the Conference Board, amid concerns about rising prices from Trump’s tariff plans.
- Market reactions showed mixed results, with defense stocks rising due to increased military spending, while most European markets and major US indices declined.
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Global stocks fall on fears of Trump auto tariffs
The Australian share market is poised to fall, after Wall Street and European stocks were hit by the looming threat of tariffs on US car imports. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
·Australia
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Total News Sources35
Leaning Left3Leaning Right5Center4Last UpdatedBias Distribution42% Right
Bias Distribution
- 42% of the sources lean Right
42% Right
L 25%
C 33%
R 42%
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