United News of Bangladesh

Asian stock markets moved higher on Friday after modest gains on Wall Street, while oil prices continued to rise as uncertainty surrounding the Iran war persisted and diplomatic efforts showed little progress. Oil prices had dropped slightly in US trading on Thursday, helping ease pressure on global bond markets as Treasury yields fell. Earlier this week, rising yields had raised concerns about slower global economic growth and weaker demand for stocks, bitcoin and other investments. Japan’s Nikkei 225 jumped 2.7% to 63,352.44 after data showed inflation slowed to a four-year low of 1.4% in April, despite higher fuel costs linked to the war. South Korea’s Kospi index gained 0.6% to 7,860.59. In Hong Kong, the Hang Seng Index rose 1.2% to 25,685.65, while China’s Shanghai Composite Index added 0.5% to 4,096.24. Australia’s S&P/ASX 200 advanced 0.5% to 8,664.00. Taiwan’s Taiex climbed 1.5%, while India’s Sensex edged up 0.2%. Oil prices remained high due to concerns over disruptions around the Strait of Hormuz, a key route for global oil and gas shipments. Shipping activity in the area remains far below levels seen before the Iran war began in late February. Ongoing talks between the United States and Iran have also failed to provide clarity. Meanwhile, Republicans in Congress faced difficulties on Thursday in gathering enough support to block legislation that would force President Donald Trump to pull the US out of the conflict. Votes on the issue have now been pushed back to June. Brent crude, the global benchmark, rose 1.5% to $104.08 per barrel. Before the war started in February, it was trading around $70 per barrel. US benchmark crude gained 0.9% to $97.25 per barrel. “Markets are still looking for signs of progress in possible US-Iran negotiations,” ING commodities strategists Warren Patterson and Ewa Manthey said in a note Friday. “There are some hopeful signs, but uncertainty still dominates.” On Wall Street, the S&P 500 rose 0.2% to 7,445.72 on Thursday. The Dow Jones Industrial Average gained 0.6% to 50,285.66, while the Nasdaq composite added 0.1% to 26,293.10. Shares of Nvidia fell 1.8% despite reporting stronger-than-expected quarterly earnings driven by demand for artificial intelligence technology. Some analysts said the company’s stock may still be undervalued. Southwest Airlines rose 2.7% and American Airlines gained 4.9% after oil prices briefly eased before climbing again. Shares of Ralph Lauren surged 13.9% following better-than-expected quarterly results. In currency trading early Friday, the yield on the US 10-year Treasury note stood at 4.56%, down from above 4.67% earlier this week when inflation concerns linked to the war pushed yields sharply higher. The US dollar rose slightly to 159.02 Japanese yen from 158.98 yen. The euro slipped to $1.1613 from $1.1619.

Asian stock markets traded mixed on Tuesday as record gains on Wall Street lifted investor sentiment, but concerns over rising oil prices and the ongoing Iran conflict kept markets cautious. Japan’s Nikkei 225 advanced 0.7 percent to 62,881.03. South Korea’s Kospi fell 1.2 percent to 7,726.30, with analysts saying the decline reflected concerns over heavy dependence on artificial intelligence-related stocks. “Global markets are relying too much on a small group of AI companies, making the current rally appear strong but potentially vulnerable,” said Stephen Innes of SPI Asset Management. Australia’s S&P/ASX 200 slipped 0.3 percent to 8,676.60. Hong Kong’s Hang Seng edged up 0.2 percent to 26,467.50, while China’s Shanghai Composite lost 0.4 percent to 4,208.00. Oil prices continued to rise as fears grew that the conflict with Iran could drag on. US benchmark crude gained 91 cents to $98.98 a barrel, while Brent crude, the global benchmark, rose 90 cents to $105.11 a barrel. Investor concerns increased after President Donald Trump said the US-Iran ceasefire was on “life support” following Washington’s rejection of Iran’s latest proposal to end the conflict. The war has pushed Brent crude prices sharply higher from around $70 a barrel before the conflict began, increasing inflation concerns worldwide. Disruptions in the Strait of Hormuz have also delayed oil shipments from the Persian Gulf to global markets. Despite these worries, stronger-than-expected corporate earnings have supported confidence that the US economy remains resilient, even as consumers face higher fuel costs and tariffs. On Monday, the S&P 500 rose 0.2 percent to close at a new record high of 7,412.84. The Dow Jones Industrial Average added 95.31 points, or 0.2 percent, to 49,704.47, while the Nasdaq Composite gained 27.05 points, or 0.1 percent, to a record 26,274.13. In the bond market, the yield on the 10-year US Treasury note increased to 4.40 percent from 4.38 percent late Friday. In currency trading, the US dollar rose to 157.57 Japanese yen from 157.12 yen, while the euro slipped to $1.1761 from $1.1787.

Asian stock markets mostly moved higher on Wednesday, following a strong rally on Wall Street as oil prices declined amid hopes that the United States and Iran may resume talks to end their conflict. Japan’s Nikkei 225 rose 0.4% in afternoon trading to 58,122.52. Australia’s S&P/ASX 200 was nearly unchanged, edging up less than 0.1% to 8,978.70. South Korea’s Kospi jumped 2.1% to 6,092.77. Hong Kong’s Hang Seng gained 0.4% to 25,980.69, while China’s Shanghai Composite slipped slightly by less than 0.1% to 4,023.40. On Wall Street, stocks closed higher, extending gains from the previous session. The S&P 500 climbed 1.2% and is now just 0.2% below its record high set in January. The Dow Jones Industrial Average added 317 points, or 0.7%, while the Nasdaq composite surged 2%. In the oil market, U.S. benchmark crude fell 58 cents to $90.70 per barrel. Brent crude edged up 7 cents to $94.86 after dropping sharply by 4.6% a day earlier. Although prices remain above pre-war levels of around $70, they are well below the peak of $119 reached earlier. Lower oil prices help reduce costs for businesses, but analysts cautioned that the ongoing conflict still poses risks. Tim Waterer, chief market analyst at KCM Trade, said the drop in oil prices reflects growing expectations that Washington and Tehran could restart negotiations after earlier talks failed. He noted that traders appear to be focusing on the possibility of easing tensions rather than current supply concerns. Asian economies remain heavily reliant on oil shipments through the Strait of Hormuz, a key route for crude exports from the Persian Gulf. Any disruption there can tighten global supply and push prices higher. Meanwhile, the International Monetary Fund said global inflation is expected to rise to 4.4% this year from 4.1% in 2025, revising its earlier forecast of a slowdown to 3.8%. The IMF also lowered its global growth outlook to 3.1% from the 3.3% projected in January. Overall, the S&P 500 gained 81.14 points to 6,967.38, the Dow rose 317.74 to 48,535.99, and the Nasdaq added 455.35 to 23,639.08. In the bond market, U.S. Treasury yields declined as easing oil prices reduced inflation concerns. The yield on the 10-year Treasury fell to 4.25% from 4.30%. In currency trading, the U.S. dollar strengthened slightly to 158.95 Japanese yen from 158.79 yen, while the euro slipped to $1.1790 from $1.1797.

Wall Street plunged sharply on Tuesday after US President Donald Trump threatened to impose new tariffs on eight European countries, intensifying tensions over his push to assert American influence over Greenland. The sell-off affected nearly all sectors, extending losses from last week. The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86, marking its steepest decline since October. The Dow Jones Industrial Average dropped 870.74 points, or 1.8%, to 48,488.59, while the Nasdaq composite slid 561.07 points, or 2.4%, to 22,954.32. Technology stocks led the decline, with Nvidia down 4.4% and Apple falling 3.5%. Retailers, banks and industrial companies also lost ground, including Lowe’s (-3.3%), JPMorgan Chase (-3.1%) and Caterpillar (-2.5%). Global markets reacted similarly, with European and Asian indices falling. Japanese long-term bond yields hit record levels amid concerns over fiscal policy. Gold and silver prices surged 3.7% and 6.9% respectively, while bitcoin retreated to around $89,700 from last week’s peak above $96,000. Trump said on Saturday that he would levy a 10% import tax in February on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland. Combined imports from these European nations exceed those from the US’s two largest import partners, Mexico and China. The threat has drawn sharp diplomatic reactions in Europe, with leaders considering countermeasures, including retaliatory tariffs. Analysts warned that such measures could push up inflation, complicating the Federal Reserve’s policy outlook. Investors are also monitoring corporate earnings amid the tariff uncertainty. Industrial giant 3M fell 7% after reporting mixed quarterly results, while other major firms, including Johnson & Johnson, Halliburton and Intel, are expected to release earnings this week.

Markets on Wall Street inched up quietly early Wednesday as President Donald Trump's 50 per cent tariffs on imports of steel and aluminium were due to kick in and US and European trade officials met in Paris to negotiate their tariff spat. Futures for the S&P 500, the Dow Jones Industrial Average and Nasdaq all rose 0.2 per cent in light trading before the bell, reports AP. Meanwhile, the European Union’s top trade negotiator, Maroš Šefčovič, met Wednesday with his American counterpart, US Trade Representative Jamieson Greer, on the sidelines of a meeting of the Organisation for Economic Cooperation and Development. Šefčovič said talks were "advancing in the right direction at pace.” Few expect Brussels and Washington to reach a substantive trade agreement in Paris because the issues dividing them are too difficult to resolve quickly. There has been no official update on the status of the steel and aluminium tariffs as of early Wednesday morning. Those tariffs are expected to hit a broad range of businesses hard and likely push up prices for consumers. Foreign-made steel and aluminium is used in household products like soup cans and paper clips as well as big-ticket items like a stainless-steel refrigerators and cars. Asian shares shoot higher as US stocks inch toward their records Hopes remain high on Wall Street that Trump will reach trade deals with other countries that will ultimately lower tariffs, particularly with the world’s second-largest economy. The US side said Trump was expecting to speak with Chinese leader Xi Jinping this week. In equities trading, Wells Fargo rose 2.5 per cent after the Federal Reserve lifted its asset cap on Tuesday and said the bank is no longer subject to the harsh restraints placed on it in 2018 for having a toxic sales and banking culture. Shares of Dollar Tree dipped 1.8 per cent before the bell despite Wednesday's strong first-quarter sales and profit report. Investors were spooked by the discount retailer's forecast, which estimated as much as a 50 per cent drop in second-quarter earnings per share due to cost pressures from higher tariffs. CrowdStrike, the cybersecurity company that Delta Air Lines has sued for a technology outage last summer, fell seven per cent after it issued lighter second-quarter guidance than analysts were expecting. Elsewhere, in Europe at midday, Germany’s DAX and the CAC 40 in Paris each gained 0.7 per cent, while Britain’s FTSE 100 inched up 0.2 per cent. South Korea’s Kospi led gains in Asia, jumping 2.7 per cent to 2,770.84 after the liberal opposition candidate Lee Jae-myung was elected president. Tokyo's Nikkei 225 index surged 0.8 per cent to 37,747.45 on gains for technology and pharmaceutical companies. Toyota Motor Corp.'s shares rose 1.9 per cent after it announced it was buying Toyota Industries Corp., a maker of auto parts and lift trucks, for $33 billion and taking it private. Toyota Industries' shares tumbled nearly 12 per cent. Chinese shares were modestly higher. The Hang Seng in Hong Kong added 0.6 per cent to 23,654.03, while the Shanghai Composite index gained 0.4 per cent to 3,376.20. In Australia, the S&P/ASX 200 closed 0.9 per cent higher at 8,541.80. Taiwan's Taiex climbed 2.3 per cent. In energy trading, US benchmark crude oil added three cent to $63.44 per barrel. Brent crude, the international standard, rose five cents to $65.68 per barrel. The US dollar rose to 144.19 Japanese yen from 144 yen. The euro rose to $1.1386 from $1.1370.

Asian markets moved higher on Tuesday after China and the United States agreed to a 90-day pause in their ongoing trade conflict. However, the momentum was limited by lingering uncertainty, as analysts cautioned that President Donald Trump’s policies could still shift unexpectedly. In a joint announcement, both countries said they would lower tariffs — the U.S. reducing duties on Chinese imports to 30% from a peak of 145%, while China would drop its tariffs on American goods to 10% from 125%. The temporary truce allows additional time for continued negotiations following recent talks in Geneva, Switzerland, which the U.S. described as having made "substantial progress." “The result exceeded most expectations and offered reassurance to investors,” said Stephen Innes of SPI Asset Management. “Make no mistake, this was highly stage-managed diplomacy. But the optics are good and the implications real. It signals that even this administration recognizes the economic drag of unrelenting tariffs,” he said in a commentary. Tokyo’s Nikkei 225 jumped 1.8% to 38,326.37. Automakers were among the big gainers, with Toyota Motor Corp. up 3.7% and Suzuki Motor Corp. 4.6% higher. Nissan Motor Co. added 3.2% after Japan’s national broadcaster NHK said it plans to lay off more than 10,000 of its workers, raising the total to 20,000, as part of its restructuring efforts. The company was due to announce its financial results for the last fiscal year later Tuesday. The Kospi in South Korea gained 0.2% to 2,612.30. Gold price reduced by Tk3137 per bhori, effective from Tuesday  Hong Kong’s Hang Seng, which gained 3% a day earlier after Chinese and U.S. officials announced the agreement to pause tariffs and reduce them, fell 0.7% to 23,374.06 on heavy selling of technology shares. The Shanghai Composite index edged 0.2% higher to 3,374.93. Taiwan’s Taiex jumped 1.9%. Australia’s S&P/ASX 200 climbed 0.6% to 8,281.40. On Monday, the world’s two largest economies agreed to take down temporarily most of their tariffs against each other. The S&P 500 shot up 3.3% to pull back within 5% of its all-time high set in February. It’s been roaring higher since falling nearly 20% below the mark last month on hopes that President Donald Trump will lower his tariffs after reaching trade deals with other countries. Closing at 5,844.19, the index at the heart of many 401(k) accounts is back above where it was on April 2, Trump’s “Liberation Day,” when he announced stiff worldwide tariffs that ignited worries about a potentially self-inflicted recession. The Dow Jones Industrial Average jumped 1,160 points, or 2.8%, to 42,410.10. The Nasdaq composite surged 4.3% to 18,708.34. A global economy less burdened by tariffs will likely burn more fuel, so the agreement to scale back tariffs by more than what many investors expected also boosted oil prices. But early Tuesday, they fell back. U.S. benchmark crude oil lost 6 cents to $61.89 per barrel. Brent crude, the international standard, shed 8 cents to $64.88 per barrel. The value of the U.S. dollar strengthened against everything from the euro to the Japanese yen to the Swiss franc. And Treasury yields jumped on expectations that the Federal Reserve won’t have to cut interest rates as deeply this year as earlier expected. Early Tuesday, the dollar was trading at 147.98 Japanese yen, down from 148.47 yen. But it gained against the euro, climbing to $1.1101 from $1.088. The move announced Monday could add 0.4 percentage points to the U.S. economy’s growth this year, according to Jonathan Pingle, U.S. chief economist at UBS. The U.S. economy shrank at a 0.3% annual rate in the first three months of the year.  

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.