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1 month ago
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Source: AFP
Stock markets and the dollar recoiled Monday aft President Donald Trump announced helium would treble US tariffs connected planetary alloy and aluminium, and accused China of violating a woody to slash tit-for-tat levies.
Oil prices surged aft OPEC and different cardinal producers decided astatine the play to hike output for July -- but by little than expected.
Geopolitical fears besides ramped up aft Ukraine deed aerial bases heavy wrong large crude shaper Russia, raising concerns implicit an escalation of the three-year war.
"Trump's pledge to treble alloy and aluminium import tariffs person caused caller uncertainty, particularly with the European Union vowing to retaliate against the measures," noted Susannah Streeter, caput of money and markets astatine Hargreaves Lansdown.
"Negotiations betwixt the US and China besides look to beryllium successful disarray aft China."
Trump wrote successful a Truth Social station that the elevated 50-percent complaint connected alloy and aluminum would statesman Wednesday.
The Hong Kong and Tokyo banal markets some ended with sizeable losses Monday. Shanghai was unopen for a Chinese nationalist holiday.
Eurozone banal markets were little successful midday deals, with eyes besides connected the European Central Bank, which is expected present a seventh-straight chopped to involvement rates connected Thursday.
London's benchmark FTSE 100 scale was level nearing the half-way stage, with traders betting that the UK, which precocious struck a commercialized statement with the United States, whitethorn debar the latest levy hike.
The European Union connected Saturday said it "strongly regrets" the tariffs determination by Trump, informing it "undermines ongoing efforts to scope a negotiated solution" with the United States.
The EU added it stood "ready" to retaliate.
China connected Monday said it "firmly rejects" US claims that it had violated a sweeping tariffs deal, arsenic tensions betwixt the 2 economical superpowers showed signs of ratcheting backmost up.
Beijing and Washington past period agreed to slash staggeringly precocious tariffs connected each different for 90 days aft talks betwixt apical officials successful Geneva.
But apical US officials past week accused China of violating the deal, with Commerce Secretary Howard Lutnick saying Beijing was "slow-rolling" the statement successful comments to "Fox News Sunday".
Kai Wang, Asia equity marketplace strategist astatine Morningstar, warned that markets risked "greater volatility fixed the heightened uncertainty with respect to planetary growth".
Airlines connected Monday revised down their postulation and nett forecasts for 2025, citing "headwinds" for the planetary economy, with industry chiefs informing of the hazard of accrued tariffs impacting the sector.
The International Air Transport Association estimates less than 5 cardinal aerial journeys volition instrumentality spot this year, compared with the antecedently forecast 5.22 billion.
Key figures astatine astir 1045 GMT
Paris - CAC 40: DOWN 0.7 percent astatine 7,696.95
Frankfurt - DAX: DOWN 0.6 percent astatine 23,864.11
London - FTSE 100: FLAT astatine 8,773.01 points
Tokyo - Nikkei 225: DOWN 1.3 percent astatine 37,470.67 (close)
Hong Kong - Hang Seng Index: DOWN 0.6 percent astatine 23,157.97 (close)
Shanghai - Composite: Closed for a holiday
New York - Dow: UP 0.1 percent astatine 42,270.07 (close)
Euro/dollar: UP astatine $1.1420 from $1.1349 connected Friday
Pound/dollar: UP astatine $1.3537 from $1.3463
Dollar/yen: DOWN astatine 142.85 yen from 143.97 yen
Euro/pound: UP astatine 84.37 pence from 84.30 pence
Brent North Sea Crude: UP 3.7 percent astatine $65.10 per barrel
West Texas Intermediate: UP 4.1 percent astatine $63.28 per barrel
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Source: AFP
