Wall Street's optimism vanished late Wednesday as President Trump’s sweeping new tariffs triggered a sharp selloff in U.S. equity futures and a flight to safe-haven assets, casting a shadow over global trade outlook and corporate margins. Key Market Moves Instrument Move S&P 500 Futures -3.5% Nasdaq 100 Futures -4.5% Treasury Futures Surged (Yields fell sharply) Japanese Yen Gained as safe haven AUD & NZD Bonds Rallied Tariff Summary A 10% baseline tariff on all U.S. imports. Additional tariffs on ~60 countries, with higher duties targeting China, EU, and Vietnam . Steel and aluminum imports spared from the new round but remain under existing 25% duties. “Eye-watering tariffs scream ‘negotiation tactic,’ which will keep markets on edge for the foreseeable future.” — Adam Hetts, Janus Henderson Investors Sector Impact Major declines hit consumer, tech, and industrial names: Company Sector Move Nike, Gap, Lululemon Retail (Vietnam-based) -...
The market dropped as anticipated, with the FBMKLCI closing 1.1% lower to 1,644.41. This was in line with the global equities' decline.
US equities closed near flatline Tuesday, after a choppy trading session, as US oil prices seesawed and investors looked ahead to Federal Reserve chair Janet Yellen’s testimony.
Across the exchange, a total of 887.61 million shares, worth RM1.06 billion, were traded. Market sentiment was bearish, as decliners beat gainers by 506 to 249, while 220 counters were unchanged.
Leading the decliners were blue chips like Kuala Lumpur Kepong Bhd, Malaysia Airports Holdings Bhd and British American Tobacco (Malaysia) Bhd, while gainers were led by Dutch Lady Milk Industries Bhd. The top active stock was Tiger Synergy Bhd.
Across the region, Japan’s Nikkei fell 2.31%, while South Korea’s Kospi gained 1.52%. China stock markets were closed for the Lunar New Year holidays.
According to Bloomberg data, the ringgit strengthened to 4.1243 against the US dollar and traded at 2.9642 against the Singapore dollar.
Brent crude gained 2.3% to US$31.02 per barrel, while West Texas Intermediate (WTI) rose 2.1% to US$28.52 per barrel.
The drop in the global market is largely due to the growing concerns about the health of the world's banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.
US equities closed near flatline Tuesday, after a choppy trading session, as US oil prices seesawed and investors looked ahead to Federal Reserve chair Janet Yellen’s testimony.
Across the exchange, a total of 887.61 million shares, worth RM1.06 billion, were traded. Market sentiment was bearish, as decliners beat gainers by 506 to 249, while 220 counters were unchanged.
Leading the decliners were blue chips like Kuala Lumpur Kepong Bhd, Malaysia Airports Holdings Bhd and British American Tobacco (Malaysia) Bhd, while gainers were led by Dutch Lady Milk Industries Bhd. The top active stock was Tiger Synergy Bhd.
Across the region, Japan’s Nikkei fell 2.31%, while South Korea’s Kospi gained 1.52%. China stock markets were closed for the Lunar New Year holidays.
According to Bloomberg data, the ringgit strengthened to 4.1243 against the US dollar and traded at 2.9642 against the Singapore dollar.
Brent crude gained 2.3% to US$31.02 per barrel, while West Texas Intermediate (WTI) rose 2.1% to US$28.52 per barrel.
The drop in the global market is largely due to the growing concerns about the health of the world's banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.
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