MONEY MASTER

  Zurich equities stumble as Trump’s tariff blow triggers risk-off sentiment The Swiss equity market reopened to heavy selling pressure Monday after a long weekend, reacting sharply to a surprise  39% export tariff  imposed by US President Donald Trump. The  Swiss Market Index (SMI)  tumbled  1.4% to 11,665.55 , trimming its year-to-date gain to a mere  0.6%  — effectively erasing almost all of 2025’s performance. Tariff Fears Hit Investor Confidence Swiss exporters were blindsided as the market priced in Trump’s aggressive trade measures — particularly damaging for the country’s export-reliant pharmaceuticals and precision goods sectors.  Pharma giants Novartis and Roche , which together make up nearly  30% of the SMI , declined  1.2%  and  2.1%  respectively, reflecting investor fears over tariff-exposed profit margins. Analysts flagged uncertainty over whether future levies might target  drug exports , especia...

The global copper market was thrown into turmoil after President Donald Trump imposed  50% tariffs on copper imports , but unexpectedly  exempted refined metals , triggering the sharpest price drop in U.S. copper futures history. What Happened: Comex copper futures plunged 22% , wiping out a record premium over London Metal Exchange (LME) prices. Traders who stockpiled copper in the U.S. ahead of tariffs saw profits evaporate as the exemption derailed expectations. Massive volumes now sit in U.S. warehouses, sparking speculation of  potential re-exports . Market Impact: The move disrupted what some called the biggest copper trade in decades, after traders rushed shipments to U.S. ports earlier this year. Comex prices swung from a  30% premium to a discount  versus LME copper in just a week. LME copper slid 1.2% to  US$9,578.50/tonne , while Comex copper dropped to  US$4.347/pound . Policy Details: The 50% tariff covers  semi-finished products ...

Ford Motor Co. said its 2025 profits will take a sharp hit as President Donald Trump’s escalating tariffs add billions in costs, underscoring how U.S. trade policy is disrupting the global auto industry. Tariff Impact: Ford now expects a  US$2 billion tariff bill  this year,  US$500 million higher  than previously estimated. The company cited  steel and aluminum tariffs doubling to 50%  and extended duties aimed at curbing fentanyl imports as key factors driving costs up. CEO Jim Farley said the tariffs feel “long term,” warning Ford’s competitiveness is at risk compared with Japanese automakers after the U.S.-Japan trade deal lowered Japan’s tariff rate to 15%. Financial Outlook: Ford forecast a  36% drop in adjusted EBIT for the full year . Second-quarter adjusted earnings came in at  37 cents per share , topping Wall Street’s 33-cent estimate. Adjusted EBIT for Q2 was  US$2.1 billion , also beating expectations. Business Segment Performanc...

Trading in the  Chinese yuan versus the US dollar  surged to new heights in  April 2025 , outpacing other major currency pairs as  market volatility  tied to US trade policy rattled global investors, according to the  Bank of England’s latest FX turnover survey . Dollar-Yuan Takes the Spotlight Daily average turnover  for the  USD/CNY pair  in London jumped  42%  to  $182.6 billion  since October 2024. The increase was  one of the largest among all currency pairs , outpacing US dollar trades with the  Australian and Canadian dollars . USD/CNY  now makes up  4.5% of London’s total FX volumes , up from  4% , reflecting its  growing importance .  FX Market Hits Record Levels London’s  foreign exchange trading  overall surged to a  record high  in April as  President Donald Trump’s new tariff threats  disrupted markets. Compared to April 2024,  total FX turn...

President Donald Trump reversed course on steep reciprocal tariffs , pausing new levies on nearly 100 nations just hours after they took effect.  But China wasn’t spared —its tariffs were  increased to 125% , triggering a mixed reaction of  market euphoria and policy confusion . What Just Happened: Trump’s  10% baseline global tariff remains , but  a 90-day pause  was granted for the steeper “reciprocal” tariffs— except for China . China’s new  125% tariff rate is “effective immediately.” Canada and Mexico stay  exempt from the baseline tariffs , though higher levies on some goods remain planned. Market Reaction: Nasdaq soared 12% S&P 500 jumped 9.5% Dow surged 7.9% (up 2,962 points) Bond markets also shifted sharply— long-term yields dropped ,  short-term yields spiked . Trump’s Take: On pausing tariffs: “They were getting a little yippy... a little bit afraid.” On China: “They want to make a deal.” On the markets: “THIS IS A GREAT TIME ...

Malaysia has cautiously welcomed the US pause on reciprocal tariffs , but  Trade and Investment Minister Tengku Zafrul  warns that  ASEAN economies remain under pressure  from the unpredictability of US trade policy. What Happened: President  Donald Trump’s decision to delay higher tariffs  on some trading partners offered temporary relief. However, the  escalation of the US-China trade dispute  continues to fuel global market volatility. Malaysia’s Response: “Nothing is certain but uncertainty,”  said Minister Tengku Zafrul, summing up the current US trade environment. The issue will be  a key agenda item at the ASEAN Economic Ministers' Meeting , chaired by Malaysia. Malaysia is committed to  ASEAN unity  in dealing with external trade shocks and seeks  balanced, predictable trade policies . Strategic Moves by Malaysia: Trade diversification:  Exploring new markets and deepening existing ties Economic reforms: ...