US EditionStocks decline, gold touches record after Trump's latest tariff shot
- Wall Street declined after President Donald Trump announced a 25% tariff on imported cars and auto parts, leading to significant losses for General Motors and Ford, which fell by 7.4% and 3.9% respectively.
- Electric vehicle manufacturers Rivian and Tesla performed well, with gains of 7.6% and 0.4% respectively.
- Gold prices reached a record high of $3,059.30 per ounce following the tariff announcement, and Goldman Sachs raised its gold price forecast to $3,300.
- The economy showed signs of stability, indicated by fewer unemployment claims, although analysts warned of potential challenges for companies due to ongoing trade uncertainties.
20 Articles
20 Articles
Futures Slide, Gold Soars Ahead Of Inflation Data Amid Tariff Turmoil
Futures Slide, Gold Soars Ahead Of Inflation Data Amid Tariff Turmoil US equity and global stock markets slumped while gold topped a fresh all time high as investors braced for today's core PCE report, the Fed's preferred inflation metric, and continued to worry about the lasting economic damage of the trade war amid daily tariff news and a halt in progress on the geopolitical front, as the market now awaits the April 2 tariff announcements. As …
Stocks decline, gold touches record after Trump's latest tariff shot
NEW YORK : Global stocks dipped and gold hit a record high on Thursday in the wake of the latest tariffs from U.S. President Donald Trump's administration that expanded the trade war to auto imports.Trump late on Wednesday announced 25 per cent tariffs on all vehicles and foreign-made auto parts imported
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