Currencies

Emerging markets are under pressure as U.S. President Donald Trump’s new tariffs—some reaching 50%—push levies to century-high levels, sparking fears of a global trade war and worsening credit outlooks. The move hits Asia and the world’s poorest economies hardest, threatening capital flows and development. The sweeping tariffs impact a wide range of exports, from Madagascar’s vanilla (47%) to Sri Lanka’s textiles (44%). Six Southeast Asian nations face levies between 32% and 49%, heavily affecting “Factory Asia.” U.S. banks like JPMorgan and Goldman Sachs have responded by downgrading emerging market currencies...

The United States has revised downwards the import duties imposed on India, reducing them from 27  per cent to 26 per cent, according to a White House document. These new tariffs will come into effect from April 9. While announcing the reciprocal tariffs on Wednesday, President Donald Trump presented a chart displaying the tariff rates that countries such as India, China, the UK, and the European Union will now have to pay. According to the chart, India previously imposed a 52 per cent tariff (factoring in currency manipulation and trade...

The United States has revised downwards the import duties to be imposed on India from 27 per cent to 26 per cent, according to a White House document. These duties will come into force from April 9. While announcing the reciprocal tariffs against different countries on Wednesday, he held up a chart that showed the tariffs that countries such as India, China, the UK, and the European Union will now have to pay. The chart indicated that India charged 52 per cent tariffs, including currency manipulation and trade barriers, and...

New Delhi: The United States has revised downwards the import duties to be imposed on India from 27% to 26%, according to a White House document. These duties will come into force from April 9. While announcing the reciprocal tariffs against different countries on Wednesday, US President Donald Trump held up a chart that showed the tariffs that countries such as India, China, the UK, and the European Union will now have to pay. The chart indicated that India charged 52% tariffs, including currency manipulation and trade barriers, and America...

The Indian rupee witnessed sharp gains on Friday at below 85 against dollar, as the dollar index and oil prices dropped sharply amid concerns over recession in the US economy after the reciprocal tariffs were announced.It is for the first time since December 2024 when rupee traded below 85 against dollar. At the beginning of the trading session, the rupee opened at 85.04 and in the early trade, it stood at 84.99, almost 40 paise up from the previous close of 85.44. The reason for the rise in rupee against...

HONG KONG -- Asian shares slid further Friday after U.S. President Donald Trump's tariffs sent shudders through Wall Street at a level of shock unseen since the COVID-19 pandemic pummeled world markets in 2020. Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies has fallen. Even gold, a traditional safe haven that recently hit record highs, pulled lower after Trump announced his “Liberation Day” set of tariffs,’ which economists say carries the risk of a potentially toxic mix of weakening economic...

Bitcoin (BTC) price is hovering around $83,000 on Friday after it failed to close above the $85,000 resistance level earlier this week. Ethereum (ETH) failed to find support around its key level, eyeing lower levels not seen since 2023.  Meanwhile, Ripple (XRP) retests its critical support level, a firm close below its aim for its yearly low. BNB price hovers near $593 as Binance and Kraken delist USDT for customer resident within the EU, triggering uncertainty under MiCA regulations. Solana (SOL) declined 3% in Friday's early Asian session, impacted by...

Trump fired up global trade tensions by announcing a baseline 10% tariff on all imports starting 5 April, with reciprocal tariffs on specific countries from 9 April. India will be hit with a 27% additional tariff, while China’s rate soars to 54%, up from the previous 20%. Gift Nifty futures took a hit earlier this morning, dropping nearly 2%, while Indian benchmark indices Nifty 50 and S&P BSE Sensex fell 1% in pre-open trade. However, Nifty 50 and Sensex later trimmed some losses, ending the day’s trade 0.35% and 0.42%...

By P.R. Venkat and Ronnie Harui Asian equities extended declines as investors continued to unload riskier assets in the wake of President Trump's tariff plans and overnight losses on Wall Street. Japan's Nikkei Stock Average fell 2.3%, heavily weighed by electronics and auto stocks. South Korea's Kospi, which opened 1.3% lower, has pared some of its losses and was last down 0.2%. In Southeast Asia, the FTSE Straits Times Index declined 1.4%, while Malaysia's FTSE Bursa Malaysia KLCI was 0.3% lower. Markets in China, Hong Kong, Taiwan and Indonesia are...

NEW YORK — Wall Street shuddered, and a level of shock unseen since the outbreak of COVID-19 tore through financial markets worldwide Thursday on worries about the damage President Donald Trump’s newest set of tariffs could do to economies across continents, including his own.The S&P 500 sank 4.8%, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy in 2020. The Dow Jones Industrial Average dropped 1,679 points, or 4%, and the Nasdaq composite tumbled 6%.Related:D-FW Fortune 500s lose $49 billion...