Asian shares and US futures gain as investors resume buying
Asian markets advanced on Tuesday, with Japan’s Nikkei 225 share benchmark initially shooting up more than 6% after it fell nearly 8% a day earlier.View on euronews
Asian markets advanced on Tuesday, with Japan’s Nikkei 225 share benchmark initially shooting up more than 6% after it fell nearly 8% a day earlier.View on euronews
The S&P 500 bear market is the second-fastest drop in history, behind only the March 2020 pandemic crash, data from Michael Reinking shows.
European investors still staggering from a nearly 12% plunge over three days in their regional stock benchmark are waking up to a futures market pointing more than 3% higher. President Donald Trump has hardly backed down in his assault on perceived trade disparities, even doubling down on China by threatening additional 50% levies that would take the combined total well above 100%. All of this raises suspicions of whether the bounce in markets will last, and even a 3% rebound in the STOXX 600 wouldn't make up much of the rout since Trump's "Liberation Day" tariff announcement last Wednesday.
The S&P 500 was up 3.7% in morning trading, though it still remains more than 14% below its record set in February. The dominant group of U.S. stocks known as the “Magnificent Seven” is bouncing back, helping power the broad rally on Wall Street.
It wasn’t the worst day on Wall Street ever, but it may well have been the weirdest.
TOKYO (Reuters) -Asian stocks bounced off more than one-year lows and U.S. stock futures pointed up on Tuesday, but many investors remained on edge even as they hoped Washington might be willing to negotiate some of the aggressive tariffs that have unleashed turmoil in markets. A 5.6% rebound in Japan's Nikkei far outpaced other regional markets, with Treasury Secretary Scott Bessent tasked with leading trade negotiations with Tokyo. "Importantly, a little ray of sunshine is starting to emerge that gives hope that the U.S. is genuinely open to trade negotiations, (with) the most significant being Japan with Treasury Secretary Bessent," said Tapas Strickland, head of market economics at National Australia Bank.
Humana shares jumped 11% in extended trading on Monday after the federal government said it would pay Medicare insurers more next year than previously expected. Monitor these key chart levels.
Wall Street's top minds aren't happy about Trump's latest tariffs, which have fueled the worst stock sell-off since 2020.
US tech billionaires have lost more than $400 billion in wealth so far this year, with Tesla CEO Elon Musk leading the way with a $130 billion drop.
NEW YORK/LONDON (Reuters) -The U.S. dollar weakened against major currencies including the yen and euro, while China's offshore yuan hit a record low on Tuesday, amid trade disputes sparked by President Donald Trump's sweeping tariffs that have roiled markets for three days. The Japanese yen and Swiss franc continued to benefit from appetite for safe-havens, however, as investors remain concerned about the potential for a global recession. Markets are bracing for a war of attrition between the U.S. and China.