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8 hours ago
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Source: AFP
Stocks were mixed Wednesday arsenic investors assessed Donald Trump's latest tariff threats, portion keeping an oculus connected commercialized talks aft the US president warned helium would not again widen a deadline to scope deals.
Investors took successful their stride quality that Trump had sent letters to 14 countries outlining his caller levies connected expectations that astir volition hammer retired an statement earlier his caller cut-off day of August 1.
But helium caused rumbles connected trading floors again Tuesday by announcing a 50 percent toll connected copper imports and saying helium was looking astatine 200 percent tariffs connected pharmaceuticals.
The quality sent the terms of copper -- utilized successful a wide scope of things including cars, operation and telecoms -- to a grounds precocious Tuesday, though it edged down successful Asian business.
The measures would broaden a slate of sector-specific actions Trump has imposed since returning to the White House, with autos and alloy deed with 25 percent taxes.
The president has ordered probes into imports of copper, pharmaceuticals, lumber, semiconductors and captious minerals that could pb to further levies.
"Today we're doing copper," helium told a furniture gathering Tuesday. "I judge the tariff connected copper, we're going to marque it 50 percent."
Commerce Secretary Howard Lutnick aboriginal told CNBC the complaint volition apt travel into effect astatine the extremity of July oregon connected August 1.
Regarding pharmaceuticals, Trump said: "We're going to springiness people astir a year, a twelvemonth and a fractional to travel in, and aft that, they're going to beryllium tariffed.
"They're going to beryllium tariffed astatine a very, precise precocious rate, similar 200 percent."
He besides warned "no extensions volition beryllium granted" to his August 1 deadline for tariff deals, aft helium pushed backmost his erstwhile cut-off of July 9 to let much clip for talks.
Despite the imaginable of much tariffs, equity traders mostly took the latest announcement successful stride, with Wall Street ending connected a mixed note.
And Asia saw akin moves, with losses successful Hong Kong, Sydney and Wellington offset by gains successful Shanghai, Singapore, Seoul, Taipei, Manila and Jakarta. Tokyo was flat.
"This is the marketplace equivalent of driving with 1 ft connected the state and 1 connected the brake -- antagonistic header hazard can interaction sentiment 1 minute, portion hopes of dialog breakthroughs easiness it the next," said SPI Asset Management's Stephen Innes.
"The president's Truth Social posts are present a de facto 'risk on-risk off' barometer for planetary markets, each 1 examined similar scripture, influencing metals, enslaved yields, and hazard premiums successful their wake."
However, Fabien Yip, a marketplace expert astatine IG, said: "When combined with country-specific tariffs, the interaction connected prices of goods and services tin beryllium acold much terrible than existent levels suggest."
There was small large absorption to information showing Chinese user prices roseate successful June for the archetypal clip since January, providing a much-needed agleam spot for the world's fig 2 economy.
Still, that was tempered by a sharper-than-expected autumn successful mill gross prices that suggested determination were further deflationary pressures.
Key figures astatine astir 0230 GMT
Tokyo - Nikkei 225: FLAT astatine 39,677.42 (break)
Hong Kong - Hang Seng Index: DOWN 0.7 percent astatine 23,987.70
Shanghai - Composite: UP 0.3 percent astatine 3,509.35
Euro/dollar: DOWN astatine $1.1724 from $1.1730 connected Tuesday
Pound/dollar: DOWN astatine $1.3590 from $1.3592
Dollar/yen: UP astatine 146.79 yen from 146.53 yen
Euro/pound: UP astatine 86.28 pence from 86.27 pence
West Texas Intermediate: DOWN 0.4 percent astatine $68.09 per barrel
Brent North Sea Crude: DOWN 0.3 percent astatine $69.93 per barrel
New York - Dow: DOWN 0.4 percent astatine 44,240.76 (close)
London - FTSE 100: UP 0.5 percent astatine 8,854.18 (close)
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Source: AFP
