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WTO Director-General: US tariff hikes will have huge impact on global trade and economic growth prospects
World Trade Organisation (WTO) Director-General Iweala said on 3 March that the US tariff increase will have a huge impact on global trade and economic growth prospects. Iweala said in a statement on the same day that the WTO is closely monitoring and analysing the tariff measures announced by the United States on the 2nd, and is actively responding to members' questions about the potential impact on their economies and the global trading system.
World Trade Organisation (WTO) Director-General Iweala said on 3 March that the US tariff increase will have a huge impact on global trade and economic growth prospects. Iweala said in a statement on the same day that the WTO is closely monitoring and analysing the tariff measures announced by the United States on the 2nd, and is actively responding to members' questions about the potential impact on their economies and the global trading system.
The dollar index fell sharply by 1.67 per cent on 3 days
The dollar index, which measures the greenback against major currencies, fell 1.67 per cent on the day to close at 102.073 at the end of the currency market, Gold Finance reported.
The dollar index, which measures the greenback against major currencies, fell 1.67 per cent on the day to close at 102.073 at the end of the currency market, Gold Finance reported.
Strategists keep an eye on whether the S&P 500 can hold key points
Following Trump's tariff actions, the S&P 500 is at a key technical point and could face a longer-term decline if it fails to hold it.During the April 3 session, the S&P 500 came to a corrective level near 5,500 points. Technical analysts who look at averages and other indicators to determine market momentum note that there are few points below this key psychological position that could attract buying on the downside. ‘There's a hint of panic in the air,’ said Jay Woods, chief global strategist at Freedom Capital Markets. ‘Trump and Treasury Secretary Besant are trying to sell Americans on this trade war, but the stock market isn't buying it. People are tired of the rhetoric, they don't see what the tariffs are going to do other than potentially plunge the U.S. into a recession, and are now rushing to get their money out of the market.’
Following Trump's tariff actions, the S&P 500 is at a key technical point and could face a longer-term decline if it fails to hold it.During the April 3 session, the S&P 500 came to a corrective level near 5,500 points. Technical analysts who look at averages and other indicators to determine market momentum note that there are few points below this key psychological position that could attract buying on the downside. ‘There's a hint of panic in the air,’ said Jay Woods, chief global strategist at Freedom Capital Markets. ‘Trump and Treasury Secretary Besant are trying to sell Americans on this trade war, but the stock market isn't buying it. People are tired of the rhetoric, they don't see what the tariffs are going to do other than potentially plunge the U.S. into a recession, and are now rushing to get their money out of the market.’
Strategists keep an eye on whether the S&P 500 can hold key points
Following Trump's tariff actions, the S&P 500 is at a key technical point and could face a longer-term decline if it fails to hold it.During the April 3 session, the S&P 500 came to a corrective level near 5,500 points. Technical analysts who look at averages and other indicators to determine market momentum note that there are few points below this key psychological position that could attract buying on the downside. ‘There's a hint of panic in the air,’ said Jay Woods, chief global strategist at Freedom Capital Markets. ‘Trump and Treasury Secretary Besant are trying to sell Americans on this trade war, but the stock market isn't buying it. People are tired of the rhetoric, they don't see what the tariffs are going to do other than potentially plunge the U.S. into a recession, and are now rushing to get their money out of the market.’
Following Trump's tariff actions, the S&P 500 is at a key technical point and could face a longer-term decline if it fails to hold it.During the April 3 session, the S&P 500 came to a corrective level near 5,500 points. Technical analysts who look at averages and other indicators to determine market momentum note that there are few points below this key psychological position that could attract buying on the downside. ‘There's a hint of panic in the air,’ said Jay Woods, chief global strategist at Freedom Capital Markets. ‘Trump and Treasury Secretary Besant are trying to sell Americans on this trade war, but the stock market isn't buying it. People are tired of the rhetoric, they don't see what the tariffs are going to do other than potentially plunge the U.S. into a recession, and are now rushing to get their money out of the market.’
Wave of tariffs upends markets, dollar gives back all gains since Trump's election win
As a new wave of tariffs upends global markets, the dollar has wiped out all gains since Trump's election win last November.Paresh Upadhyaya, director of fixed-income and currency strategy at Amundi, said, ‘The dollar bear market is here and it's roaring.’ He added that the dollar could fall 10 per cent this year as the US ‘teeters on the brink of recession’. That contrasts with earlier this year, when Trump's policy plans, such as tax cuts and tariffs, were seen as a reason to bet on a dollar rally. In February, U.S. Treasury Secretary Ben Bessent confirmed the administration's strong dollar stance by saying Trump's policies were ‘perfectly consistent’ with a strong dollar, said Ed Al-Hussainy, a strategist at Columbia Threadneedle Investment: ‘We may be in the early stages of a structural sell-off in the dollar.’
As a new wave of tariffs upends global markets, the dollar has wiped out all gains since Trump's election win last November.Paresh Upadhyaya, director of fixed-income and currency strategy at Amundi, said, ‘The dollar bear market is here and it's roaring.’ He added that the dollar could fall 10 per cent this year as the US ‘teeters on the brink of recession’. That contrasts with earlier this year, when Trump's policy plans, such as tax cuts and tariffs, were seen as a reason to bet on a dollar rally. In February, U.S. Treasury Secretary Ben Bessent confirmed the administration's strong dollar stance by saying Trump's policies were ‘perfectly consistent’ with a strong dollar, said Ed Al-Hussainy, a strategist at Columbia Threadneedle Investment: ‘We may be in the early stages of a structural sell-off in the dollar.’
The three major U.S. stock indexes opened lower, with the Dow initially closing about 1,700 points lower
The three major U.S. stock indexes opened low and closed low, the Dow initially closed down about 1,700 points, the S&P 500 fell 4.8 per cent, the Nasdaq fell nearly 6 per cent. Technology stocks fell heavily, Apple (AAPL.O) fell 9%, market value evaporated about 300 billion U.S. dollars, Amazon (AMZN.O), Nvidia (NVDA.O) fell 8.9% and 7.8% respectively. Intel (INTC.O) bucked the market with a 2 per cent gain. The Nasdaq China Golden Dragon Index fell 1.9 per cent.
The three major U.S. stock indexes opened low and closed low, the Dow initially closed down about 1,700 points, the S&P 500 fell 4.8 per cent, the Nasdaq fell nearly 6 per cent. Technology stocks fell heavily, Apple (AAPL.O) fell 9%, market value evaporated about 300 billion U.S. dollars, Amazon (AMZN.O), Nvidia (NVDA.O) fell 8.9% and 7.8% respectively. Intel (INTC.O) bucked the market with a 2 per cent gain. The Nasdaq China Golden Dragon Index fell 1.9 per cent.
Analyst: Trump administration's ‘bad maths’ sparks market fears
Wall Street's fear gauge soared on Thursday as investors were shocked by Trump's historic tariff hikes, Gold Finance reports. As U.S. stocks and blue chips like Apple tumbled, the VIX volatility index, also known as the ‘fear gauge,’ soared 30 per cent, on its way to its biggest one-day gain since the Federal Reserve-driven sell-off last December. ‘The market thinks it's not just bad economics, it's bad maths,’ said Michael Block, market strategist at Third Seven Capital. Brock noted that the way the Trump administration calculates reciprocal tariffs seems suspect. ‘They're ignoring every rule of classical micro- and macroeconomics. This is the policymaking equivalent of a suicide bomb.’ Liz Ann Sanders, chief investment strategist at Charles Schwab, said many investors in the past thought Trump was simply using tariffs as a negotiating tool. ‘Now the market is saying, wait a minute, this is actually happening. We should take him at his word,’ Sanders said. ‘Yesterday, we were not liberated from uncertainty,’ she said, referring to what Trump called ’liberation day.’
Wall Street's fear gauge soared on Thursday as investors were shocked by Trump's historic tariff hikes, Gold Finance reports. As U.S. stocks and blue chips like Apple tumbled, the VIX volatility index, also known as the ‘fear gauge,’ soared 30 per cent, on its way to its biggest one-day gain since the Federal Reserve-driven sell-off last December. ‘The market thinks it's not just bad economics, it's bad maths,’ said Michael Block, market strategist at Third Seven Capital. Brock noted that the way the Trump administration calculates reciprocal tariffs seems suspect. ‘They're ignoring every rule of classical micro- and macroeconomics. This is the policymaking equivalent of a suicide bomb.’ Liz Ann Sanders, chief investment strategist at Charles Schwab, said many investors in the past thought Trump was simply using tariffs as a negotiating tool. ‘Now the market is saying, wait a minute, this is actually happening. We should take him at his word,’ Sanders said. ‘Yesterday, we were not liberated from uncertainty,’ she said, referring to what Trump called ’liberation day.’
Macron ‘powerful’: response to US tariffs will be larger than ever before
On 3 April, French President Emmanuel Macron met with French business leaders affected by Trump's ‘Liberation Day’ tariffs and delivered a speech, according to Golden Ten Data. He said France's response to the US tariffs would be ‘on a much larger scale’ than its previous retaliation against US steel and aluminium tariffs. Europe must respond to the tariffs sector by sector, calling on companies to suspend investment in the US. If Europeans are united in their response, they will be able to successfully dismantle the US tariff policy. In response to the U.S. tariffs, we have made all preparations, do not rule out the use of EU anti-coercive tools against the United States, all tools to respond to U.S. tariffs are under consideration. In addition, Macron said that the United States is correct in its judgement, but tariffs are not the right answer and Western economies need to improve productivity. The tariffs announced by Trump are ‘cruel and unfounded’ and represent an attack on international trade.
On 3 April, French President Emmanuel Macron met with French business leaders affected by Trump's ‘Liberation Day’ tariffs and delivered a speech, according to Golden Ten Data. He said France's response to the US tariffs would be ‘on a much larger scale’ than its previous retaliation against US steel and aluminium tariffs. Europe must respond to the tariffs sector by sector, calling on companies to suspend investment in the US. If Europeans are united in their response, they will be able to successfully dismantle the US tariff policy. In response to the U.S. tariffs, we have made all preparations, do not rule out the use of EU anti-coercive tools against the United States, all tools to respond to U.S. tariffs are under consideration. In addition, Macron said that the United States is correct in its judgement, but tariffs are not the right answer and Western economies need to improve productivity. The tariffs announced by Trump are ‘cruel and unfounded’ and represent an attack on international trade.
Forexlive: Tomorrow night's Powell speech more important than non-farm payrolls
April 3, according to Golden Ten Data reported, financial website Forexlive: the importance of Powell's speech on Friday will be greater than the non-farm payrolls data, the market has completely digested the expectations of a rate cut in June, but all the comments of Fed officials on tariffs are more hawkish, if Powell's wording has also turned hawkish, beware of the market's expectations of the Fed's interest rate cuts will be a serious re-pricing.
April 3, according to Golden Ten Data reported, financial website Forexlive: the importance of Powell's speech on Friday will be greater than the non-farm payrolls data, the market has completely digested the expectations of a rate cut in June, but all the comments of Fed officials on tariffs are more hawkish, if Powell's wording has also turned hawkish, beware of the market's expectations of the Fed's interest rate cuts will be a serious re-pricing.