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

RTTNews | 182 ngày trước
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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Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | 20 phút trước
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | 1h 3phút trước
German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
RTTNews | 1h 33phút trước
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | 2h 46phút trước
FTSE 100 Weak Again, Looks Headed For Weekly Loss

FTSE 100 Weak Again, Looks Headed For Weekly Loss

U.K. stocks are trading lower on Friday, losing ground for a fourth straight session, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | 3h 19phút trước