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Sensex, Nifty Fall Over 1% On Trade War Fears; IT Stocks Hit Hard

RTTNews | 130 days ago

Sensex, Nifty Fall Over 1% On Trade War Fears; IT Stocks Hit Hard

(RTTNews) - Indian shares were deep in the red on Friday after U.S. President Donald Trump said his proposed 25 percent tariffs on Mexican and Canadian goods will take effect on March 4 along with an extra 10 percent duty on Chinese imports over the fentanyl opioid crisis, deepening the fear of a global trade war.

Trump's tariff plans also sparked concerns about inflation, interest rates and economic growth.

The benchmark S&P/BSE Sensex was down 972 points, or 1.3 percent, at 73,640 in early trade while the broader NSE Nifty index fell 290 points, or 1.28 percent, to 22,255.

Among the prominent decliners, Infosys, Tech Mahindra, Wipro, Mahindra & Mahindra and IndusInd Bank tumbled 3-5 percent.

Tata Power fell more than 1 percent and Rail Vikas Nigam declined 1.7 percent despite winning new orders.

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KOSPI May Run Out Of Steam On Wednesday

KOSPI May Run Out Of Steam On Wednesday

The South Korea stock market has finished higher in back-to-back sessions, collecting more than 60 points or 1.9 percent along the way. The KOSPI now sits just beneath the 3,115-point plateau although investors may lock in gains on Wednesday.

RTTNews | 19 minutes ago

New Zealand Interest Rate Decision Due On Wednesday

New Zealand Interest Rate Decision Due On Wednesday

The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBNZ is expected to hold its Official Cash Rate steady at 3.25 percent.

RTTNews | 1h 19min ago

U.S. Dollar Higher As Trump Delays Tariff Deadline

U.S. Dollar Higher As Trump Delays Tariff Deadline

The U.S. dollar climbed against its major counterparts in the New York session on Tuesday, as President Donald Trump announced a delay in implementation of tariffs to August 1.

RTTNews | 1h 59min ago

American Households' Inflation Expectations Steady; More Optimism On Finances: NY Fed Survey

American Households' Inflation Expectations Steady; More Optimism On Finances: NY Fed Survey

U.S. households' inflation expectations were largely unchanged in June and they were more optimistic regarding their financial situation and access to credit in the year-ahead, results of a survey by the Federal Reserve Bank of New York showed on Tuesday.

RTTNews | 2h 17min ago

Swiss Market Settles Marginally Up

Swiss Market Settles Marginally Up

Despite spending much of the day's trading session in negative territory, the Switzerland market closed marginally higher on Tuesday thanks to some brisk buying in the final minutes.

RTTNews | 4h 20min ago

European Markets Close On Positive Note

European Markets Close On Positive Note

European markets closed on a positive note on Tuesday, as investors shrugged off concerns about tariffs and picked up stocks, amid hopes major European countries will strike trade deals with the U.S. before the newly announced August 1 deadline.

RTTNews | 4h 42min ago

Strong Jobs Data Limits Dollar's Losses Amidst Fiscal And Tariff Concerns

Strong Jobs Data Limits Dollar's Losses Amidst Fiscal And Tariff Concerns

Data showing an unexpectedly strong payrolls addition curtailed the dollar's losses in a week marked by anxiety about the U.S. fiscal outlook.

RTTNews | 10h 17min ago

U.S. Small Business Confidence Erodes Slightly In June, Taxes Main Concern - NFIB

U.S. Small Business Confidence Erodes Slightly In June, Taxes Main Concern - NFIB

Small business sentiment in the U.S. eased slightly in June as uncertainty remains elevated despite easing, and taxes remained a top concern for business owners, survey data from the National Federation of Independent Businesses showed on Tuesday.

RTTNews | 12h 41min ago

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