- Arsenal deliver Champions League statement of intent: Arteta
- Man City not 'stable', says Guardiola after Feyenoord collapse
- League fines Hawks $100,000 for Young missing NBA Cup game
- Man City blow 3-0 lead to extend winless run in Feyenoord thriller
- Kim heads Bayern past 10-man PSG to dent Champions League hopes
- Lewandowski hits Champions League century as Barca beat Brest
- Inter take Champions League lead with narrow win over Leipzig
- Arsenal crush Sporting in Champions League to extend revival
- Ceasefire in Israel-Hezbollah war to take effect
- Egyptian clubs go on scoring sprees in CAF Champions League
- Biden hails Lebanon ceasefire deal as 'good news'
- Brazil's Bolsonaro 'participated' in 2022 coup plot against Lula: police
- Barcelona striker Lewandowski scores 100th Champions League goal
- Autos, food: What are the risks from Trump's tariff threat?
- Alvarez, Correa net braces as Atletico thrash Sparta Prague
- Trump brings back government by social media
- Animal rights activist on FBI 'most wanted terrorist' list arrested
- Netanyahu seeks ceasefire after two months of war in Lebanon
- Trump tariffs threat casts chill over Canada
- Hong Kong tycoon Jimmy Lai's court case a 'show trial': son
- Blinken says Lebanon ceasefire talks 'in final stages'
- Mascherano re-unites with Messi as new coach of Inter Miami
- Real Madrid's Bellingham gone from 'scapegoat' to smiling
- Bangladeshi Hindus protest over leader's arrest, one dead
- Celtic fuelled by Dortmund embarrassment: Rodgers
- Salah driven not distracted by contract deadlock, says Slot
- Algeria holds writer Boualem Sansal on national security charges: lawyer
- Biden proposes huge expansion of weight loss drug access
- Saudi 2025 budget sees lower deficit on spending trims
- Pogba's brother, five others, on trial for blackmailing him
- Prosecutors seek up to 15-year terms for French rape trial defendants
- Emery bids to reverse Villa slump against Juventus
- Carrefour attempts damage control against Brazil 'boycott'
- Namibians heads to the polls wanting change
- Sales of new US homes lowest in around two years: govt
- Paris mayor Hidalgo says to bow out in 2026
- Stocks, dollar mixed on Trump tariff warning
- ICC to decide fate of Pakistan's Champions Trophy on Friday
- Man Utd revenue falls as Champions League absence bites
- Russia vows reply after Ukraine strikes again with US missiles
- Trump threatens trade war on Mexico, Canada, China
- Motta's injury-hit Juve struggling to fire ahead of Villa trip
- Cycling chiefs seek WADA ruling on carbon monoxide use
- Israel pounds Beirut as security cabinet to discuss ceasefire
- Fewest new HIV cases since late 1980s: UNAIDS report
- 4 security forces killed as ex-PM Khan supporters flood Pakistan capital
- Four bodies, four survivors recovered from Egypt Red Sea sinking: governor
- Ayub century helps Pakistan crush Zimbabwe, level series
- French court cracks down on Corsican language use in local assembly
- Russia expels UK diplomat accused of espionage
RBGPF | 1.33% | 61 | $ | |
RYCEF | 0.44% | 6.8 | $ | |
SCS | -1.33% | 13.54 | $ | |
CMSC | -0.65% | 24.57 | $ | |
BCC | -2.76% | 148.41 | $ | |
NGG | -0.68% | 62.83 | $ | |
RIO | -1.53% | 62.03 | $ | |
CMSD | -0.61% | 24.43 | $ | |
GSK | -0.38% | 34.02 | $ | |
BTI | 1.01% | 37.71 | $ | |
VOD | -0.56% | 8.86 | $ | |
RELX | 0.51% | 46.81 | $ | |
JRI | -0.98% | 13.24 | $ | |
BCE | -1.46% | 26.63 | $ | |
BP | -1.24% | 28.96 | $ | |
AZN | -0.06% | 66.36 | $ |
Trump tariff worries trip up stocks rally
A stocks rally following Donald Trump's re-election lost steam Tuesday on worries of a possible trade war between China and the United States, analysts said.
Wall Street's main indices opened narrowly mixed, with the Nasdaq Composite dipping less than a tenth of a percent.
"Maybe, just maybe the stock market will see some profit-taking interest today after scoring huge gains in the wake of last week's election," said Briefing.com analyst Patrick O'Hare.
"The resolve of the bears, therefore, is going to be tested with the ongoing show of resilience," he added.
European stocks were lower across the board in afternoon trading, while leading Asian markets closed the day with hefty losses.
Chinese stocks were already under pressure from disappointment about Beijing's lack of extra measures to boost China's stuttering economy.
Hong Kong finished nearly three percent lower.
The sell-off came despite another record close Monday on Wall Street, fuelled by expectations that Trump will launch tax cuts and other business-friendly policies.
Seen as inflationary measures that will keep interest rates high, the dollar was firm again Tuesday.
Trump's support for cryptocurrency pushed bitcoin to a record high nearing $90,000 at one point Tuesday.
The Republican has meanwhile pledged to impose tough tariffs on imports into the United States, including as much as 60 percent on goods from China.
Trump's decision to pick China hawks for key positions in his cabinet has added to fears that the next few years could be bumpy.
"The latest moves from Trump's camp... are sending chills through the markets and casting a decidedly icy glow on US-China relations," noted independent analyst Stephen Innes.
Analysts are also expecting tariffs on European imports, hurting the region's top stock markets.
The dollar extended gains against its peers that started after news of Trump's election, which has sparked bets on a pick-up in inflation that could complicate the Federal Reserve's plans to lower US interest rates.
The latest reading of the US consumer price index due Wednesday will be closely watched as investors try to ascertain the central bank's plans for next month's monetary policy meeting.
"We assume the Trump administration will deliver on their key policy proposals with the degree and timing of these policies the bigger uncertainty," said National Australia Bank's Rodrigo Catril.
"Most of these policies (lower taxes, tariffs, immigration, deregulation, unfunded expansionary fiscal policy) can be regarded as pro-growth and or inflationary.
"This means, all else equal, a shallower Fed easing cycle and a stronger dollar," Catril added.
- Key figures around 1430 GMT -
New York - Dow: UP 0.2 percent at 44,360.72 points
New York - S&P 500: UP less than 0.7 percent at 6,005.32
New York - Nasdaq Composite: DOWN less than 0.1 percent at 19,286.21
London - FTSE 100: DOWN 0.9 percent at 8,051.24
Paris - CAC 40: DOWN 1.4 percent at 7,323.48
Frankfurt - DAX: DOWN 1.0 percent at 19,249.64
Tokyo - Nikkei 225: DOWN 0.4 percent at 39,376.09 (close)
Hong Kong - Hang Seng Index: DOWN 2.8 percent at 19,846.88 (close)
Shanghai - Composite: DOWN 1.4 percent at 3,421.97 (close)
Dollar/yen: UP at 154.48 yen from 153.81 yen on Monday
Euro/dollar: DOWN at $1.0617 from $1.0648
Pound/dollar: DOWN at $1.2794 from $1.2872
Euro/pound: UP at 83.01 pence from 82.73 pence
Brent North Sea Crude: UP 1.3 percent at $72.74 per barrel
West Texas Intermediate: UP 1.5 percent at $69.07 per barrel
burs-rl/yad
L.E.Campos--PC