Please note that due to market volatility, some of the scenarios may have already been played out and the information below is not an investment advice.
Wall Street falls on Trump’s tariffs: US President Trump’s administration yesterday announced that new tariffs on steel and aluminium imports from Canada, Mexico and the EU are coming into effect, raising concerns of a trade war. As a result, the Dow Jones closed more than 1% lower, joined by the S&P 500 and Nasdaq indices. Despite the negative momentum, several stocks reached all-time highs yesterday, including Adobe and Godaddy.
NFP report coming today: The Non-Farm Payroll report, a key indicator of the US market’s overall health, will be released today at 12:30 GMT, alongside other employment data. Later, at 14:00 GMT, the ISM Manufacturing PMI report will be released. The data published could generate volatility for the USD and other key financial instruments in the US.
Asia seen lower: Markets in the East followed Wall Street’s lead, as the Hang Seng and China50 indices were both seen lower this morning, while the Nikkei was nearly flat.
Lower volatility in crypto market: The crypto market was mixed over the past 24 hours, as 6 of the top 10 cryptos were seen higher at the time of writing. However, most movements were relatively insignificant. At the time of writing, Bitcoin was nearly flat, keeping slightly above the $7,500 mark.
Deutsche Bank at record low: Germany’s biggest bank was reportedly added to a group of ‘troubled’ lenders followed by US regulators, sending its stock tumbling more than 7% to reach a record low.
Europe opens higher: The FTSE opened 8 points higher, the DAX was up 35 points and the CAC opened 18 points higher.
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