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South African Rand Steady as Trump Backs Off Tariff and Greenland Threats
Trump reversed plans for tariffs on eight European countries and ruled out military action on Greenland, boosting global stock markets and investor confidence, with the S&P 500 rising 1.2%.
- On Wednesday, U.S. President Donald Trump backed down at the World Economic Forum in Davos, saying he would not use military force over Greenland and agreed on a NATO framework for Arctic security.
- Trump's weekend threat of 10% tariffs on Denmark, Norway, Sweden, Germany, France, the United Kingdom, the Netherlands and Finland prompted a sharp market reaction, with markets logging their biggest losses since October on Tuesday.
- Asian stocks led the rally Thursday, with Tokyo's Nikkei climbing 1.9%, SoftBank Group jumping 11%, and Tokyo Electron rising 3.7%.
- Yields eased, with the 10-year Treasury at 4.25% after the de-escalation, gold fell 0.9% to $4,794.70 per ounce, and U.S. benchmark crude oil rose to $60.79 per barrel while Brent crude hit $65.35.
- The easing tensions drove Wall Street optimism, with the S&P 500, Dow Jones Industrial Average and Nasdaq composite each rising 1.2% on Wednesday amid calming in Japan's bond market.
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129 Articles
Sydney Morning Herald+3 Reposted by 3 other sources
ASX finishes week down; Gold miners jump, Life360 soars
A Donald Trump about-turn on tariffs over Greenland buoyed US markets.
·Sydney, Australia
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Donald Trump's reversal of his Greenland-related trade threats was enough to boost the appetite for risk at Wall Street. ...
·Brussels, Belgium
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ABC FOX Montana+26 Reposted by 26 other sources
Stocks rally as Trump drops Greenland tariff threats
Stocks rallied Thursday after President Donald Trump rowed back on threats to hit key European countries with tariffs over their opposition to a US takeover of Greenland.
·Missoula, United States
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The New York Stock Exchange is on the rise on Thursday, relieved by Donald Trump's volte-face on the Greenland issue, the US President having suspended his customs threats against several European countries.
·Montreal, Canada
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Total News Sources129
Leaning Left15Leaning Right21Center41Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 20%
C 53%
R 27%
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