Wall Street set to open lower
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The Washington Post |
Futures tied to the S&P 500 and the Nasdaq composite index were down more than 2 percent about 30 minutes before the U.S. market opened.
Yahoo |
Tariffs on U.S. goods entering China will rise to 84% from 34% starting April 10, as the country is pushing back on President Trump's tariff policies.
Yahoo |
Trump said he hopes the tariffs will influence companies to build more manufacturing plants in the United States; however, pushback is coming from both sides of the aisle, citing economic concerns.
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China, Markets
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The Wall Street Journal |
U.S. stocks tumbled, erasing some of the gains from Wednesday’s historic rally after the president announced he would pause some tariffs on most countries.
BBC |
Tariffs ranging from 11% to 104% now apply to imports from around 60 US trade partners, which Trump has dubbed the "worst offenders" for what he considers unfair trade practices.
Reuters |
The trade war between the U.S. and China leaves significant uncertainty over oil demand growth with more risk to downside for prices, said Ashley Kelty, analyst at Panmure Liberum.
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Asia-Pacific markets were set to fall Friday, after Wall Street resumed sell-off overnight as trade war tensions between the world's two largest economies fueled risk-off mood. Australia's S&P/ASX 200 futures were at 7,622, compared to the index's last close at 7,709.6.
China has remained defiant in the escalating trade war. Trump advisers say other countries are lining up to negotiate deals.
Trade tensions remain high despite President Trump's decision on Wednesday to temporarily freeze U.S. tariffs on dozens of countries.
"We believe the whole trajectory of earnings for TSLA remains too high and could face negative revisions post 1Q25 results," UBS analysts said.
The tariff is higher than the 34% initially announced and comes as President Trump's tariffs on imports from China are expected to rise to 104%.
Wall Street's main indexes tumbled on Thursday on concerns over the impact of high U.S. tariffs on global economy, with stocks pulling back sharply from the day-ago gains when President Donald Trump moved to pause the levies on some countries.