Shares of U.S. banks tumbled to multi- month lows, after President Donald Trump's sweeping tariffs plan sparked fears of a recession and a slowdown in consumer spending that could hurt earnings. Big U.S. banks will start reporting earnings this month, with JPMorgan, Wells Fargo and Morgan Stanley announcing their first quarter earnings on April 11.
President Donald Trump's sweeping reciprocal tariffs could hamstring Big Tech's billion-dollar efforts to build artificial intelligence infrastructure in the country, likely undermining a key goal of the administration, analysts said.
U.S. trading partners threatened to ratchet up a trade war with the United States as President Donald Trump's sweeping tariffs ignited fears of steep price hikes in the world's largest consumer market.
The dollar sank against major peers, dropping against the euro, and the safe haven yen and Swiss franc, as investors grappled with how U.S. President Donald Trump's far-reaching tariffs will impact global trade and economic growth.
A key U.S. employment report could provide more clarity into how the U.S. labor market fared as President Donald Trump's tariffs threaten to disrupt businesses. The nonfarm payrolls data is forecast to show the economy added 135,000 jobs in March, compared to 151,000 jobs in February.
Boeing CEO Kelly Ortberg said that the planemaker is focused on improving safety and not pressuring workers to speed up production after a 2024 mid- air 737 MAX 9 emergency. "I'm not pressuring the team to go fast.
U.S. President Donald Trump is due to appear shortly at the White House Rose Garden for a "Liberation Day" ceremony where he is expected to announce sweeping tariffs that could escalate a trade war and upend the global economy. Trump has kept the world guessing ahead of the 4 p.m. ET event about the details of the new tariffs, which are expected to prompt countermeasures from trading partners.
Stocks closed higher after a choppy trading session, falling early and then rebounding as investors made last- minute bets to position themselves ahead of U.S. President Donald Trump's sweeping tariff announcements due later in the day.
Stocks ended higher ahead of President Donald Trump’s sweeping tariff announcement. Treasury yields rose following the private payrolls and manufacturing data. The dollar fell against major currencies, while gold climbed on safe-haven demand. Oil prices edged higher.
Wall Street ended sharply lower, dragged down by losses in Nvidia and Tesla as investors awaited information about long-promised U.S. tariffs on automotive imports. Shares of Tesla fell 5.58% and General Motors ended 3.14% lower. "Markets hate the tariff uncertainty, especially when it pertains to autos. Autos are ground zero for the negative economic impacts of tariffs," said Jamie Cox, managing partner at Harris Financial Group.
Stocks ended down, while the dollar strengthened as traders awaited auto tariffs to be announced by President Donald Trump. Treasury yields, meanwhile, inched higher as investors weighed potential exemptions to those tariffs. Oil prices jumped on reports of a dip in U.S. crude oil inventories. Gold eased but remained above the $3,000 per ounce level.
Many investors went into 2025 assuming Donald Trump would use tariffs as a negotiating tool, but this belief has been shaken in recent weeks, generating significant market angst. But Trump’s fiscal strategy may yet lead to a benign outcome for the global economy.
Airbus and Boeing are preparing the aerospace industry for sharp increases in output of the next generation of workhorse jets to some 100 a month each, as they explore lighter plastic materials and robotic assembly, industry sources said.
Tesla shares surged after this year's steep decline following reports the Trump administration is likely to exclude a set of sector-specific tariffs while applying reciprocal levies on April 2. Traders also took advantage of the near 40% decline in the stock so far this year to buy into the EV maker.
Stocks closed sharply higher and Treasury yields climbed after reports that President Donald Trump's tariff plan may use a more targeted approach than previously thought, boosting risk appetite. The dollar strengthened as U.S. business activity picked up in March, pushing gold lower. Oil prices were up on Venezuela oil and gas tariffs.
The Dow and the S&P 500 ended nearly unchanged, recovering from earlier lows following President Donald Trump’s comments on tariff reprieve. The benchmark 10-year Treasury yield rose but traded in a tight range on tariff and economic concerns. The dollar gained putting pressure on gold prices. Oil edged up as fresh Iran sanctions and latest output plan from the OPEC+ raised supply concerns.
Nvidia CEO Jensen Huang said the company was well placed to navigate a shift in the artificial intelligence industry, in which businesses are moving from training AI models to getting detailed answers from them.
Stocks ended sharply down as investors remained cautious ahead of the Federal Reserve’s monetary policy decision. Treasury yields fell on strong demand for 20-year bond auction. The dollar weakened further, while gold hit a new record high. Oil prices eased as Ukraine peace talks offset Mideast instability worries.
Stocks advanced as cooler-than- expected inflation data helped stanch a sharp selloff, while the escalation of U.S. President Donald Trump's chaotic, multi-front tariff war kept gains in check.
The Nasdaq and the S&P 500 ended higher, while the dollar strengthened as cooler-than-expected inflation data calmed tariff concerns. Meanwhile, Treasury yields gained on potential inflationary impact of global trade war. Oil prices jumped on lower-than- expected oil and fuel inventories in the U.S. Safe-haven gold rose.
Wells Fargo sued JPMorgan Chase to recover losses for investors in a $481 million commercial real estate loan that was allegedly based on a fraudulently inflated financial metric. The lawsuit pits the fourth-largest U.S. bank against the largest, with Wells Fargo accusing JPMorgan of turning a blind eye during due diligence in pursuit of millions of dollars in fees.
CoreWeave, an artificial intelligence startup backed by Nvidia, has signed a five-year contract worth $11.9 billion with OpenAI to provide cloud computing services ahead of its hotly- anticipated stock market launch, people familiar with the matter told Reuters.
Wall Street plunged and Treasury yields fell on recession fears, triggered by relentless tariff wrangling and uncertainties surrounding U.S. trade policies. Economic growth and demand concerns weighed on oil prices too. The dollar weakened against the Japanese yen. Gold dropped on profit booking.
Goldman Sachs plans to trim its staffing by 3% to 5% in an annual performance review process this spring, said a source familiar with the matter who declined to be identified discussing personnel matters.
Tesla's sales of its China-made electric vehicles dropped 49.2% in February from a year earlier to 30,688 cars, the lowest since August 2022, as the U.S. automaker faces pressure from Chinese rivals in a relentless smart EV price war.
China retaliated swiftly against fresh U.S. tariffs with hikes to import levies covering $21 billion worth of American agricultural and food products, moving the world's top two economies a step closer towards an all-out trade war.
Target warned that uncertainty around tariffs would weigh on the retailer's profit in the first quarter and doubled down on sourcing more of its products from countries including Guatemala.
Business executives have been in a state of limbo over Donald Trump's fluctuating plans to impose major tariffs since he took office in January.
Stocks finished lower amid escalating trade war concerns. Longer-dated Treasury yields rose, reversing earlier declines, after German debt brake deal. The dollar slipped, while safe-haven gold gained. Oil prices hit 6-month low on OPEC+ output increase announcement and pause in Ukraine aid.
Canada's main stock index closed lower as escalating global trade tensions fueled risk-aversion, with strong bank earnings failing to boost market sentiment.
The S&P/TSX composite index fell 0.79% to end at 25,128.24, following three consecutive sessions of gain.
The U.S. dollar was rose 0.75% against its Canadian counterpart to C$1.4445, after touching its weakest intraday level since February 4 at 1.4442. It was the fifth straight day of declines for the currency.
Nvidia's upbeat quarterly forecast signaled that the AI boom is not over, but it failed to bring buyers back into the "Magnificent Seven" stocks that have dipped in the last three months.
The S&P 500 and Nasdaq ended sharply lower, weighed down by a slump in chipmaker Nvidia after its quarterly report failed to rekindle Wall Street's AI rally, while investors focused on data pointing to a cooling U.S. economy.
Stocks ended down as Nvidia results failed to rekindle an AI rally. Treasury yields rose ahead of the crucial PCE data. The dollar was up as tariff threats loom, pushing gold prices down. Oil climbed on supply concerns after U.S. President Doanld Trump revoked Chevron’s Venezuela deal.
Canada's main stock index ended higher as stronger-than-expected bank earnings offset a drop in oil prices and worries about the growth prospects for high-flying technology shares.
The S&P/TSX composite index was up 0.21% to close at 25,203.98.
Heavily-weighted financials gained 0.81% to 484.70.
Apple shareholders voted to keep the tech giant's diversity, equity and inclusion policies, a win for management which had opposed efforts by a conservative group to scrap the program. The vote at the iPhone maker's annual meeting was seen as a test of shareholder views about the value of DEI programs, which many companies added or beefed up starting in 2020 amid the Black Lives Matter movement.
Stocks struggled with the S&P 500 and the Nasdaq touching one-month lows as a dour consumer confidence report put mounting economic uncertainties into sharp relief and prompted a selloff. "This is clearly a risk-off day and a continuation of a risk- off month," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
The Nasdaq and the S&P 500 tumbled and the dollar slipped in the face of mounting economic uncertainties. Treasury yields also slipped following a dour consumer confidence report. Oil prices plunged on tariff worries. Profit booking pushed gold prices to their lowest level in over a week.
