United News of Bangladesh

Big Tech stocks led Wall Street to a positive finish on Friday, capping off a turbulent week marked by market swings tied to President Donald Trump’s ongoing trade war. The S&P 500 climbed 0.7%, extending a strong three-day rally and pulling within 10.1% of its all-time high from earlier in the year. Strong gains from Nvidia and other major tech names helped the Nasdaq composite outperform with a 1.3% jump. However, the upbeat performance in tech masked a more uneven day overall—more stocks in the S&P 500 declined than advanced. Meanwhile, the Dow Jones Industrial Average posted a modest gain of just 20 points, or 0.1%. Alphabet climbed 1.7% in its first trading after Google’s parent company reported late Thursday that its profit soared 50% in the beginning of 2025 from a year earlier, more than analysts expected. Alphabet is one of the biggest companies on Wall Street in terms of size, and that gives its stock’s movements extra influence on the S&P 500 and other indexes. Another market heavyweight, Nvidia, was also a major force pushing the S&P 500 index upward after the chip company rose 4.3%. They helped offset a 6.7% drop for Intel, which fell even though its results for the beginning of the year also topped expectations. The chip company said it’s seeing “elevated uncertainty across the industry” and gave a forecast for upcoming revenue and profit that fell short of analysts’ expectations. It wasn’t just Intel. Roughly three out of every five stocks in the S&P 500 sank, including Eastman Chemical, which dropped 6.2% after it gave a forecast for profit this spring that fell short of analysts’ expectations. CEO Mark Costa said that the “macroeconomic uncertainty that defined the last several years has only increased” and that future demand for its products “is unclear given the magnitude and scope of tariffs.” Asian shares soar after Wall Street rallies into a 3rd day Skechers U.S.A., the shoe and apparel company, pulled its financial forecasts for the year due to “macroeconomic uncertainty stemming from global trade policies” even though it just reported a record quarter of revenue at $2.41 billion. Its stock fell 5.3%. Companies across industries have increasingly been saying the uncertainty created by Trump’s tariffs is making it difficult to give financial forecasts for the upcoming year. Stocks bounced back from a steep slide on Monday on hopes that Trump may be softening his approach on trade and his criticism of the Federal Reserve, which had earlier shaken markets. The hope is that if Trump rolls back some of his stiff tariffs, he could avert a recession that many investors see as otherwise likely because of his trade war. But Trump’s on-again-off-again tariffs may nevertheless be pushing households and businesses to alter their spending and freeze plans for long-term investment because of how quickly conditions can change, sometimes seemingly by the hour. “Business owners scrambling to figure out their supply chains and exposure to tariffs is more than just a distraction,” according to Brian Jacobsen, chief economist at Annex Wealth Management. “It could be an existential threat, especially for smaller businesses that don’t have the scale or resources to have the same supply chain flexibility as larger firms.” All told, the S&P 500 rose 40.44 points to 5,525.21. The Dow Jones Industrial Average added 20.10 to 40,113.50, and the Nasdaq composite jumped 216.90 to 17,382.94. In stock markets abroad, indexes rose modestly across much of Europe following more mixed movements in Asia. Tokyo’s Nikkei 225 jumped 1.9%, but stocks in Shanghai slipped 0.1%. In the bond market, Treasury yields eased some more, and the yield on the 10-year Treasury fell to 4.25% from 4.32% late Thursday. It’s been generally falling since approaching 4.50% earlier this month in a surprising rise that suggested investors worldwide may have been losing faith in the U.S. bond market’s reputation as a safe place to park cash. Yields have dropped as several reports on the U.S. economy have come in weaker than expected, bolstering expectations that the Federal Reserve may cut interest rates later this year to support growth. A report on Friday morning said sentiment among U.S. consumers sank in April, though not by as much as economists expected. The survey from the University of Michigan said its measure of expectations for coming conditions has dropped 32% since January for the steepest three-month percentage decline seen since the 1990 recession. The value of the U.S. dollar meanwhile held steady against the euro and other rival currencies. It’s been recovering some of its sharp, unexpected losses from earlier this month that had rattled investors.      

Asian stock markets climbed in early trading on Friday, following a third consecutive day of gains on Wall Street, fueled by optimism that the Federal Reserve may move to cut interest rates. Japan's Nikkei 225 jumped 1.9% to reach 35,701.38, while South Korea's Kospi advanced 1% to 2,547.39. In Hong Kong, the Hang Seng Index rose 1.4% to 22,226.19. Meanwhile, China’s Shanghai Composite Index was mostly flat, hovering at 3,297.36. Investor sentiment was lifted by speculation that former President Donald Trump may be easing his stance on tariffs and taking a softer tone toward the Federal Reserve. However, Beijing pushed back on Thursday, stating that China is not currently engaged in active trade talks with the U.S. Elsewhere in the region, Taiwan’s Taiex saw a strong gain of 2.3%, while markets in Australia remained closed in observance of Anzac Day. Growth slows for South Asia, Bangladesh hit too: WB Wall Street’s rally kept rolling Thursday as better-than-expected profits for U.S. companies piled up in reports mainly from tech companies like ServiceNow and Texas Instruments, offsetting the uncertainties in the retail sector. Federal Reserve officials boosted expectations for interest rate cuts as they said that they would slash the rate as early as June if Trump’s tariffs hurt the U.S. economy and job market. The S&P 500 charged 2% higher to 5,484.77 and pulled within 11% of its record set earlier this year. The Dow Jones Industrial Average rose 1.2% to 40,093.40, while the Nasdaq composite jumped 2.7% to 17,166.04. In other moves early Friday, U.S. benchmark crude oil gained 13 cents to $62.92 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, added 22 cents to $66.77 per barrel. The U.S dollar rose to 142.96 Japanese yen from 142.69 yen. The euro edged lower, to $1.1349 from $1.1391.    

Asian markets fell on Friday following a steep sell-off on Wall Street, triggered by the latest round of tariffs announced by Donald Trump, which dealt a fresh blow to the global economy on a scale not seen since the onset of the COVID-19 crisis. Futures for U.S. equities and oil prices also moved lower. Trump tariffs ignite global backlash, shake markets, trade alliances Japan’s Nikkei 225 dropped 2.6% to 33,818.18, while South Korea’s Kospi declined 0.8% to 2,467.14, as both nations moved toward talks with Trump’s administration to negotiate tariff reductions. Australia’s S&P/ASX 200 retreated 1.9% to 7,713.60. Chinese markets remained closed due to a public holiday. Trump introduced a base tariff of 10% on imports, with significantly higher rates imposed on goods from certain nations, including China and EU member states. UBS analysts estimated that the full scope of these tariffs—comparable to levels not seen in nearly a century—could slash U.S. economic growth by two percentage points this year and push inflation toward 5%. Such a dramatic economic impact makes the likelihood of the tariffs being sustained seem “low,” according to Bhanu Baweja and other strategists at UBS. Trump previously acknowledged tariffs might cause “a little disturbance” in the economy and financial markets, and on Thursday, he again downplayed their effects as he departed for Florida from the White House. “The markets are going to boom, the stock is going to boom, and the country is going to boom,” he asserted. On Thursday, the S&P 500 plunged 4.8% to 5,396.52—its worst single-day performance since the pandemic-induced crash of 2020. The Dow Jones Industrial Average slid 4% to 40,545.93, and the Nasdaq composite sank 6% to 16,550.61. Markets across the board were hit by fears of a damaging combination of slowing economic growth and rising inflation driven by the tariffs. From crude oil to Big Tech stocks and even the U.S. dollar, prices fell. Gold, which had recently reached record highs as a safe haven, also edged lower. Smaller U.S. firms were especially affected, with the Russell 2000 index diving 6.6%, pushing it more than 20% below its all-time high. While investors were bracing for sweeping tariffs, Trump’s announcement still delivered what Mary Ann Bartels, CIO at Sanctuary Wealth, called “the worst case scenario.” For some time, Wall Street had assumed Trump would use tariffs mainly as leverage in trade negotiations, rather than implement them as permanent policy. But his remarks on reshoring manufacturing jobs suggest a more ideological commitment, rather than a tactical manoeuvre. Achieving such a shift could take years. If the tariffs are fully implemented, stock values may need to fall significantly more than the current 10% from their peak to factor in a potential recession and the decline in corporate earnings that could result. As of now, the S&P 500 is down 11.8% from its February record. “Markets may still be underestimating the full impact, especially if these rates turn out to be final,” said Sean Sun, a portfolio manager at Thornburg Investment Management, though he suggested the announcement might still represent an opening move. Trump's Tariff Hike: How will it affect Bangladesh? When asked about the market reaction as he headed to his Florida golf club, Trump remained optimistic. “I think it’s going very well,” he said. “We’re conducting a sort of economic surgery, like a major operation. This is exactly how I said it would go.” One variable in the situation is the Federal Reserve, which could lower interest rates to stimulate the economy. The Fed had been cutting rates late last year but paused in 2025. Lower rates can help businesses and consumers by making borrowing cheaper. Treasury yields plunged amid growing expectations of rate cuts and broader concerns about the U.S. economy. The 10-year Treasury yield fell sharply to 4.04% from 4.20% on Wednesday, down from around 4.80% in January—a significant move in the bond market. However, the Fed’s flexibility may be limited. While lower rates can spur economic activity, they can also drive inflation higher—something tariffs are already intensifying. American consumers are bracing for higher costs across the board. Despite the turmoil, recent data shows the U.S. economy is still expanding. A report released Thursday revealed a decline in jobless claims, surprising economists who had expected a rise in unemployment. A strong labour market has been key in preventing a recession so far. Another report showed growth in the U.S. services sector—encompassing transportation, finance, and other areas—though the pace was slower than forecast, and business sentiment was mixed. Worries over slowing economic momentum and stubborn inflation drove declines in a wide array of stocks, with four out of five S&P 500 companies finishing lower. Best Buy fell 17.8%, hurt by concerns over its global supply chain. United Airlines dropped 15.6%, as fears over the economy may reduce both business and leisure travel. Target declined 10.9%, amid worries that consumers already grappling with inflation might cut back further. In early Friday trading, the U.S. dollar strengthened slightly to 146.05 yen from 145.93 yen. The euro also edged up, rising to $1.1068 from $1.1052.

Asian markets made modest gains on Wednesday following a subdued session on Wall Street, where buying activity slowed after a broad rally the previous day. This rally had been driven by optimism that President Donald Trump’s tariffs might not be as extensive as initially feared. Tesla sales fall by 49% in Europe even as the EV market grows Hong Kong’s Hang Seng increased by 0.3% to 23,403.40, while the Shanghai Composite index dipped by less than 0.1% to 3,367.98. Tokyo’s Nikkei 225 climbed 0.7% to 38,027.29. Meanwhile, South Korea’s Kospi rose 1.1% to 2,643.94, and Australia’s S&P/ASX 200 advanced 0.7% to 7,999.00. On Tuesday, the S&P 500 edged up by 0.2% to 5,776.65, following a 1.8% surge on Monday—one of its strongest performances in the past year. The Dow Jones Industrial Average gained 4 points, or less than 0.1%, to 42,587.50, while the Nasdaq composite added 0.5% to 18,271.86. U.S. stocks have recouped some of their losses after declining 10% below their all-time high earlier this month, marking their first “correction” since 2023. The S&P 500 is now down 6% from its peak, making the market appear less overvalued than before—a key concern after its rapid growth in previous years. However, Wall Street strategists caution that further volatility is likely, with an April 2 deadline approaching. This date, which Trump has dubbed “Liberation Day,” marks the implementation of tariffs on trading partners that he claims impose a disproportionate burden on the U.S. Monday’s market rally was fueled by hopes that these “reciprocal” tariffs may be more targeted than initially feared. Even if the tariffs are less severe than expected, the uncertainty surrounding them has already shaken confidence among U.S. consumers and businesses, potentially leading to reduced spending and slowing economic growth. A report released on Tuesday revealed worsening sentiment among American households. The Conference Board’s consumer confidence index fell more than anticipated, largely due to a steep decline in short-term economic expectations. This measure hit its lowest point in 12 years, remaining “well below the threshold of 80 that typically signals an impending recession.” Similar to other recent surveys, the data indicated that U.S. households are more concerned about the economy’s future than its current state. Despite this pessimism, economic activity and the job market have so far remained resilient. On Wall Street, Trump Media & Technology Group surged 8.9% after announcing a partnership with Crypto.com to launch a series of “America-First” investment funds. These exchange-traded funds (ETFs) will include bitcoin and other digital assets, as well as stocks in U.S.-focused industries like energy. Crypto.com will provide the technology infrastructure, custody, and cryptocurrency supply for these ETFs, which will operate under TMTG’s Truth.Fi brand. BYD reports 2024 revenue over $100b, topping Tesla's sales Tesla gained 3.4%, fluctuating between minor gains and losses after weak sales data from Europe. Despite this, the stock remains down nearly 29% for 2025. Homebuilder KB Home fell 5.2% after reporting lower-than-expected profit and revenue for the latest quarter. Homebuilders, already struggling, may face rising costs due to tariffs, which could be passed on to homebuyers. A report on Tuesday indicated that U.S. new home sales in the previous month were slightly weaker than economists had predicted. In early trading on Wednesday, U.S. benchmark crude oil rose 31 cents to $69.31 per barrel, while Brent crude, the global benchmark, gained 30 cents to $72.69 per barrel. The U.S. dollar strengthened to 150.47 Japanese yen from 149.86 yen on Tuesday, while the euro slipped to $1.0784 from $1.0790.

Asian stock markets were mostly lower on Monday, following a tech-driven rally that helped Wall Street break a four-week losing streak. U.S. stock futures rose as investors looked ahead to developments concerning President Donald Trump’s tariffs. Reports indicated that Trump may narrow his broad tariff approach to focus on countries with significant trade surpluses with the U.S., many of which are in Asia. Deepal signs agreement with Crack Platoon for nationwide EV charging network President Trump has set April 2 as a deadline for imposing additional tariffs on trading partners, following a series of prior deadlines that had been postponed, sometimes at the last moment. During a meeting with business leaders and U.S. Senator Steve Daines, the first U.S. Congress member to visit Beijing since Trump’s inauguration, Chinese Premier Li Qiang adopted a conciliatory tone. Li stated that relations between the two countries had reached a crucial point and emphasized the need for dialogue over confrontation and win-win cooperation instead of zero-sum competition. He expressed China’s hope for joint efforts with the U.S. to ensure steady and sustainable relations between the two nations. The meeting also involved leaders from major American businesses, including FedEx CEO Raj Subramaniam, Boeing Senior VP Brendan Nelson, Qualcomm CEO Cristiano Amon, and Pfizer CEO Albert Bourla. IG’s Junrong Yeap noted that Trump administration officials had hinted that the list of affected countries may not be universal, and existing tariffs, such as those on steel, might not necessarily be cumulative. This sparked optimism that Trump’s tariff plans might be more posturing than substantial. Despite this, Chinese markets remained sluggish. Hong Kong's Hang Seng Index dropped 0.3% to 23,613.50, while the Shanghai Composite Index fell 0.3% to 3,356.50. In Tokyo, the Nikkei 225 remained mostly flat at 37,676.97, after a preliminary manufacturing report showed the fastest decline in output in a year, with new orders falling at an even quicker rate. Taiwan’s Taiex rose by 0.1%. On Friday, the S&P 500 edged up by 0.1% to 5,667.56, marking a 0.5% weekly gain, though it remains down 4.8% for the month. The Dow Jones Industrial Average gained 0.1% to 41,985.35, while the Nasdaq composite rose 0.5% to 17,784.05. Technology stocks led the charge, helping to offset broader declines in the S&P 500. The tech sector, which has been central to the market's recent sell-offs after a strong performance in the previous year, includes some of Wall Street’s most valuable stocks. Apple rose by around 2%, and Microsoft added 1.1%. However, Nvidia fell by 0.7%, while Micron Technology saw an 8% drop, marking the biggest decline among S&P 500 stocks. Johnson & Johnson plans $55b in US investments over the next 4yrs Stocks have been struggling for weeks due to concerns about the U.S. economy's direction. A trade war with key U.S. trading partners threatens to exacerbate inflation, impacting both consumers and businesses. Inflation remains persistently above the Federal Reserve’s 2% target, and tariffs could undermine the central bank's efforts to control inflation. Recent economic data on home sales, industrial production, and unemployment suggested the economy remains resilient, while other reports on consumer sentiment and retail sales revealed growing caution among consumers. Businesses have been warning investors about the negative impacts of tariffs, inflation, and uncertainty on costs. Homebuilder Lennar dropped by 4% after issuing a weaker-than-expected forecast for new orders and average sales prices in the current quarter. The company attributed the decline to high interest rates, inflation, and decreased consumer confidence, which are all impacting the already challenging housing market. In other markets, U.S. benchmark crude oil declined by 22 cents to $68.06 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international benchmark, fell by 30 cents to $71.86 per barrel. The U.S. dollar rose to 149.78 Japanese yen from 149.37 yen, while the euro edged up to $1.0823 from $1.0816.

Asian stocks rose on Monday following a strong rally in U.S. markets, marking the best day since November’s election, and amid stronger-than-expected factory data from China. Later in the day, Chinese officials were scheduled to brief the media on Beijing's efforts to boost consumer spending. Economists argue that increased consumer spending is essential for reviving the economy, though most have called for broader reforms to build confidence and enhance purchasing power. Bangladesh's leading light engineering firms participate in Comex Singapore 2025 Hong Kong's Hang Seng gained 1.3%, reaching 24,276.64, while the Shanghai Composite rose by 0.6% to 3,429.30. China's industrial output increased nearly 6% in the first two months of the year compared to last year, and retail sales grew by 4%. However, there was continued weakness in the property market, with home prices falling and real estate investment down nearly 10% from the previous year. In Japan, the Nikkei 225 index rose 1.3% to 37,539.36, while Seoul's Kospi surged 1.7% to 2,608.68. Australia's S&P/ASX 200 added 0.6%, reaching 7,838.20, and Taiwan’s Taiex rose by 0.9%. In contrast, Bangkok’s SET index dropped 0.7%. On Wall Street, U.S. stocks surged on Friday, but the market still ended its fourth consecutive losing week, the longest streak since August. The S&P 500 climbed 2.1%, recovering from a correction, closing at 5,638.94. This followed a sharp decline that began less than a month ago. The last significant rally occurred the day after President Donald Trump's election, when optimism was high about his return to the White House. The Dow Jones Industrial Average rose 1.7% to 41,488.19, while the Nasdaq composite gained 2.6% to 17,754.09. Ulta Beauty saw a 13.7% surge after reporting better-than-expected profits for the quarter. The market was further supported by gains in Big Tech and AI-related stocks, which had been under pressure due to concerns that their prices had risen too much in the AI frenzy. Nvidia rose 5.3%, reducing its 2025 losses to under 10%, while Apple increased by 1.8%, cutting its weekly loss that had initially been on track to be its worst since the 2020 COVID-19 crash. Senate actions to avoid a partial U.S. government shutdown also helped ease some market fears. However, the biggest uncertainty remains the escalating trade war, with questions about how much economic pain President Trump is willing to inflict through tariffs and other policies to reshape the country and world. Trump has said he aims to bring manufacturing jobs back to the U.S. and reduce the size of the government workforce. Although stock prices may be near completing their adjustment for tariffs scheduled to begin in April, concerns about the impact of federal spending cuts on the economy are expected to persist. U.S. households and businesses have reported declining confidence due to the uncertainty surrounding Trump’s shifting policies, raising fears that reduced spending could slow economic growth. A preliminary survey by the University of Michigan released on Friday revealed that consumer sentiment had fallen for the third consecutive month, primarily due to concerns about the future, even though the job market and economy remain relatively strong. Gold price increases by Tk 2,613 per bhori in Bangladesh In early Monday trading, U.S. benchmark crude oil increased by 48 cents to $67.66 per barrel, while Brent crude rose 49 cents to $71.07 per barrel. The U.S. dollar gained slightly against the Japanese yen, rising to 148.93 from 148.81, while the euro dropped slightly to $1.0880 from $1.0882.

With anticipation growing over President Donald Trump's upcoming tariff announcements, Wall Street opened lower on Thursday ahead of key inflation and jobless claims data. Futures for the S&P 500 dropped 0.4%, while Dow Jones Industrial Average futures declined 0.2%. Nasdaq futures also fell, sliding 0.5%. Canada and the EU swiftly retaliate against Trump's steel and aluminum tariffs Intel emerged as one of the biggest gainers overnight, surging more than 11% after appointing semiconductor industry veteran and former board member Lip-Bu Tan as its new CEO. Tan, 65, is set to take on the challenging role next week, over three months after former CEO Pat Gelsinger’s abrupt retirement amid Intel’s ongoing downturn. Conversely, American Eagle Outfitters saw an early decline despite surpassing fourth-quarter sales and profit expectations. The retailer noted that an “uncertain consumer and operating landscape” was dampening demand for the current quarter. Its cautious outlook concerned investors, leading to a 9% drop in shares before the market opened. Uncertainty has dominated recent market trends, with fluctuations occurring each time President Trump announces—or postpones—a new round of tariffs. The market has been unsettled as investors and economists attempt to assess the extent of economic strain Trump is willing to impose through tariffs and other measures. In response to Trump’s tariff decisions, the European Union, Canada, and China have introduced retaliatory tariffs of their own. Even if Trump opts for less aggressive tariffs, the impact may still be significant. The continuous cycle of tariff announcements and reversals has already begun eroding confidence among U.S. consumers and businesses by amplifying uncertainty. This could lead to reduced spending by households and companies, slowing overall economic growth. Asian markets slip despite Wall Street rebound amid trade war uncertainty Some U.S. businesses report that customer behavior has already begun to shift. Later on Thursday, new government data will be released regarding inflation at the wholesale level, along with a report detailing the number of Americans who filed for jobless benefits in the past week. In European markets, Germany’s DAX was down 0.4% by midday, while France’s CAC 40 rose 0.1%. Meanwhile, Britain’s FTSE 100 remained unchanged. Asian markets experienced broad declines as investors monitored developments in Trump’s trade policies. Hong Kong’s Hang Seng index fell 0.6% to 23,462.65, while the Shanghai Composite index slipped 0.4% to 3,358.73. Japan’s Nikkei 225, which initially gained, closed 0.1% lower at 37,790.03. South Korea’s Kospi inched down 0.1% to 2,573.64, while Australia’s S&P/ASX 200 declined 0.5% to 7,749.10. Elsewhere, Taiwan’s Taiex dropped 1.4%, India’s Sensex slipped 0.1%, and Bangkok’s SET edged up 0.1%.

Wall Street experienced some relief after an encouraging report revealed that inflation eased more than anticipated last month, allowing stocks to recover a portion of their steep losses from recent weeks. The S&P 500 climbed 1% in early trading Wednesday, following a brief dip a day earlier of more than 10% below its record high set last month. Vision unveils affordable 4D Ultra series air conditioner The Dow Jones Industrial Average gained 251 points, while the Nasdaq composite rose by 1.8%. Leading the gains were Big Tech stocks, which had previously suffered due to concerns that their valuations had become excessively high in recent years. Tesla, whose stock price had fallen by more than half since mid-December, rebounded with a 7% increase. U.S. futures and oil prices showed an upward trend. France's CAC 40 edged up 0.9% in early trading to 8,014.58, while Germany's DAX jumped 1.5% to 22,644.81, and Britain's FTSE 100 rose 0.5% to 8,542.24. U.S. shares appeared poised to move higher, with Dow futures gaining nearly 0.1% to 41,510.00 and S&P 500 futures climbing 0.6% to 5,610.00. The escalation of Trump's trade war has unsettled global markets. He increased tariffs on Canadian steel and aluminium, leading Ontario to remove a surcharge that had sparked his ire. Japan's benchmark Nikkei 225 remained mostly unchanged, rising by less than 0.1% to 36,819.09. Meanwhile, Hong Kong’s Hang Seng fell 0.9% to 23,566.42, while the Shanghai Composite slipped 0.2% to 3,371.92. Australia's S&P/ASX 200 dropped 1.3% to 7,786.20, whereas South Korea's Kospi advanced 1.5% to 2,574.82. Market sentiment remained subdued due to uncertainty over how much economic strain Trump is willing to endure to achieve his objectives. “Trump’s tariff policies continue to create instability in markets, leaving investors uncertain about which measures will be introduced or revoked next,” said Tim Waterer, chief market analyst at KCM Trade. Actions taken by Trump and remarks from the White House on Tuesday provided little clarity. White House press secretary Karoline Leavitt stated, “The president will look out for Wall Street and for Main Street.” Recent market fluctuations have been accompanied by further warning signs regarding the economy, as Trump’s inconsistent tariff implementation generates confusion and pessimism among U.S. households and businesses. These tariffs have the potential to directly harm the economy by driving up costs for American consumers and disrupting global trade. Even if their impact is less severe than feared, the constant uncertainty may deter U.S. businesses and consumers from investing or spending. In energy markets, benchmark U.S. crude rose by 34 cents to $66.59 per barrel, while Brent crude, the global standard, increased by 31 cents to $69.87 per barrel. Stock market trends maintain upward momentum in Dhaka, Chattogram In currency trading, the U.S. dollar strengthened to 148.50 Japanese yen from 147.78 yen, while the euro inched up to $1.0921 from $1.0919.

Wall Street’s sell-off is slowing on Tuesday, for now at least, following a scary stretch where worries about the economy and tariffs sent it close to 9% below its all-time high. The S&P 500 was down 0.3% in early trading. While still a loss, such a modest move would be a respite after the main measure of Wall Street’s health swung by at least 1%, up or down, seven times in the last eight days. The Dow Jones Industrial Average was down 202 points, or 0.5%, as of 9:35 a.m. Eastern time. A day earlier, it had been down more than 1,100 points at one point. The Nasdaq composite was virtually unchanged. Several Big Tech stocks held steadier after getting walloped in recent months. Elon Musk’s Tesla rose 1.1%, for example. President Donald Trump even said he would buy a Tesla in a show of support for “Elon’s ‘baby.’ ” A day earlier, the electric-vehicle company’s stock tumbled 15.4% to deepen its loss for the young year so far to 45%. Trump blamed political opponents who are “trying to illegally and collusively boycott Tesla,” as Musk leads efforts in Washington to cut spending by the federal government. Other Big Tech superstars, which had led the market to record after record in recent years, also held a bit firmer. Nvidia rose 1.2% to trim its loss for the year so far to 19.3%. It’s struggled as the market’s sell-off has weighed heavily on stocks seen as getting too expensive in Wall Street’s frenzy around artificial-intelligence technology. Still, warning signals continue to flash about the economy, where Trump’s on -and- off -again rollout of tariffs has caused confusion and pessimism among U.S. households and businesses. The fear is that whipsaw moves will either hurt the economy directly or create enough uncertainty to drive U.S. companies and consumers into an economy-freezing paralysis. Stocks plunge as Wall Street questions Trump’s economic tolerance Delta Air Lines said late Monday that it’s already seeing the change in confidence and that demand is waning for close-in bookings for flights. That pushed it to roughly halve its forecast for revenue growth in the first three months of 2025, down to a range of 3% to 4% from a range of 7% to 9%. Delta’s stock lost 5.2%. Southwest Airlines also cut its forecast for an important underlying revenue trend, pointing to less government travel, among other reasons. But its stock nevertheless rallied 8.9% after the airline said it would soon begin charging some passengers to check bags and announced changes to encourage its most loyal customers. Oracle dropped 6.4% after the technology giant reported profit and revenue for the latest quarter that fell short of analysts’ expectations. In stock markets abroad, indexes were mixed across Europe and Asia. Stocks rose 0.4% in Shanghai and were nearly unchanged in Hong Kong as China’s annual national congress wrapped up its annual session with some measures to help boost the slowing economy. In the bond market, Treasury yields held steadier after tumbling in recent months on worries about the U.S. economy. The yield on the 10-year Treasury was holding at 4.22%, where it was late Monday. In January, it was nearing 4.80%.

The U.S. stock market's downturn deepened on Monday as Wall Street speculated on how much economic strain President Donald Trump is willing to endure through tariffs and other policies to achieve his objectives. The S&P 500 fell 2.7%, bringing it nearly 9% below its all-time high set just last month. At one point, it was down 3.6%, heading for its worst day since 2022—when soaring inflation strained budgets and fuelled concerns about a recession that ultimately did not materialise. Bangladesh Bank halts exchange of new notes for Eid The Dow Jones Industrial Average dropped 890 points, or 2.1%, after recovering from an earlier loss of over 1,100 points, while the Nasdaq composite tumbled 4%. This marked the worst day yet in a volatile period where the S&P 500 has fluctuated by more than 1% in seven of the past eight sessions due to Trump's unpredictable tariff policies. The concern is that these sharp swings could either directly harm the economy or create enough uncertainty to push U.S. companies and consumers into economic stagnation. Signs of economic weakening have already emerged, primarily through surveys reflecting growing pessimism. Additionally, a widely monitored set of real-time indicators compiled by the Federal Reserve Bank of Atlanta suggests the U.S. economy may already be contracting. Asked over the weekend whether he foresaw a recession in 2025, Trump told Fox News Channel: "I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing." He then added, "It takes a little time. It takes a little time." Trump aims to bring manufacturing jobs back to the U.S., citing this as one of the reasons for his tariff policies. His Treasury Secretary, Scott Bessent, has also indicated that the economy may undergo a "detox" period as it adjusts to reduced government spending. The White House is seeking to curb federal expenditures, cut the federal workforce, and increase deportations—moves that could impact the labour market. For now, the U.S. job market remains stable, and the economy ended last year on solid footing. However, economists are lowering their growth projections for this year. Goldman Sachs' David Mericle, for example, has reduced his estimate for U.S. economic growth in 2025 from 2.2% to 1.7%, largely due to the expectation that tariffs will be more extensive than previously forecasted. He sees a one-in-five chance of a recession within the next year, raising the probability only slightly because "the White House has the option to pull back policy changes" if economic risks "begin to look more serious." "Multiple forces are always at play in the market, but right now, almost all of them are secondary to tariffs," said Chris Larkin, managing director for trading and investing at E-Trade from Morgan Stanley. In response to the market decline, White House spokesman Kush Desai pointed out that numerous companies have responded to Trump's "America First" economic agenda with "trillions in investment commitments that will create thousands of jobs." On Monday, Trump met with tech industry CEOs, though the meeting was closed to the media. Remittance inflow surges amid forex reserve crisis The turbulence on Wall Street has been particularly damaging to some of its biggest players. Big Tech stocks and firms that benefited from the recent artificial intelligence boom have experienced sharp declines. Nvidia dropped another 5.1% on Monday, bringing its year-to-date loss to over 20%—a stark contrast to its nearly 820% surge over 2023 and 2024. Elon Musk's Tesla plummeted 15.4%, extending its 2025 decline to 45%. Initially, Tesla saw a post-election boost due to expectations that Musk's close ties with Trump would benefit the company. However, the stock has since slumped amid concerns that Musk’s brand has become too closely linked with the administration. Protests against the U.S. government's workforce reduction efforts and other policies have even targeted Tesla dealerships. Companies reliant on strong consumer confidence also took significant hits. Cruise operator Carnival fell 7.6%, while United Airlines dropped 6.3%. The sell-off has not been limited to stocks. Investors have also pulled back from other assets that previously seemed unstoppable, such as bitcoin. The cryptocurrency's value has fallen below $80,000, down from over $106,000 in December. Instead, investors have sought refuge in U.S. Treasury bonds, which are perceived as more stable during economic uncertainty. This has driven Treasury prices sharply higher, pushing down their yields. The yield on the 10-year Treasury fell again to 4.22% from 4.32% on Friday. Since January, when it neared 4.80%, yields have steadily declined as economic concerns have mounted—a significant shift for the bond market. Despite the uncertainty, Wall Street dealmaking has continued. Redfin's stock soared 67.9% after Rocket announced it would acquire the digital real estate brokerage in an all-stock deal valued at $1.75 billion. However, Rocket's stock fell 15.3%. ServiceNow declined 7.9% after the AI platform company revealed plans to acquire AI-assistant maker Moveworks for $2.85 billion in cash and stock. Overall, the S&P 500 lost 155.64 points to close at 5,614.56. The Dow Jones Industrial Average dropped 890.01 points to 41,911.71, while the Nasdaq composite fell 727.90 points to 17,468.32. Global markets also felt the impact, with European indexes largely declining after a mixed session in Asia. Hong Kong’s index dropped 1.8%, and Shanghai’s edged down 0.2% after China reported a decline in consumer prices for the first time in 13 months. This was the latest sign of weakness in the world’s second-largest economy, where persistently weak demand was compounded by the early timing of the Lunar New Year holiday.