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) -...
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| FBM KLCI fell 13.11 points |
US crude futures were trading at US$31.25 per barrel at 0758 GMT, down 1.95% from their last settlement. International Brent futures were down around 1% at US$32.90 a barrel. Both dropped more than 5% in intra-day trading the previous day.
The consequence of the fall in oil prices are obvious given what we have seen in the past few months...the market fall as well.
FBM KLCI dropped by 0.8% or 13.11 points to close at 1,664.17.
Across Asia, Japan's Nikkei 225 lost 0.85% while Hong Kong's Hang Seng shed 1.15%.
Bursa Malaysia saw 1.53 billion shares valued at RM1.51 billion traded. Decliners beat gainers at 601 versus 229.
The top gainers included Kuala Lumpur Kepong Bhd and PPB Group Bhd.
The leading decliner was Dutch Lady Milk Industries Bhd.
The most-active stocks included APFT Bhd and KNM Group Bhd.
Among decliners, Kossan Rubber Industries Bhd fell to an intraday low of RM6.69 before closing unchanged at RM6.75.
Today, the ringgit weakened to 4.224 against the US dollar, tracking lower crude oil prices.
The ringgit tracks prices of crude oil as the commodity forms a crucial portion of the Malaysian economy and government revenue.
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