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BENGALURU: Asian currencies rose against the dollar on Friday as US President Donald Trump’s tariffs on trading partners prompted a rush out of the world’s reserve currency, though stocks remained subdued on lingering tariff concerns. The US dollar index fell below 100 against a basket of major units for the first time since July 2023 as investors ditched US assets for other safe-havens like the Swiss franc, yen, euro and gold. Singapore’s dollar firmed to its highest level in more than five months, while Malaysia’s ringgit appreciated by 0.7%. The...

President Trump’s tariff regime has rocked investor confidence in what has long been considered not only a safe bet for investors, but a bedrock of the American economy: US Treasury bonds. The longstanding perception that Treasurys are a “risk-free” place to park money — a perception that has long been crucial for the US government, businesses and consumers alike to keep borrowing costs low — is being eroded as Wall Street struggles to make sense of Trump’s strategy, according to experts. “Put simply, the US long-bond rate — the Treasury...

Donald Trump bragged that his friend and investor Charles Schwab made two billion dollars from the current stock market chaos.In a video posted to X on Wednesday, 9 April, the president introduced NASCAR drivers to the founder and chairman of Charles Schwab Corporation, a multinational financial services company.“It’s not just a company, it’s actually an individual,” Trump told the racing drivers.The president added that Schwab “made two and a half billion today” from the stock market.The market has experienced dramatic fluctuations since Trump announced historic reciprocal tariffs on foreign nations...

Currency volatility across the region has jumped ever since the larger-than-expected new US tariffs were announced last week. (EPA Images pic) BEIJING: President Donald Trump’s US tariff whiplash and the Chinese yuan’s trajectory will likely keep Asian currency volatility elevated. Currency volatility across the region has jumped ever since the larger-than-expected new US tariffs were announced last week, while foreign currency options signal increased bearishness. Concerns over economic growth have also driven more aggressive bets that regional central banks will cut interest rates. Uncertainty could remain high, even as Trump...

U.S. stocks extended their retreat into Thursday afternoon trading, while Treasury yields moved and the dollar resumed its recent slump, as global markets continued to react to the dramatic tariff U-turn unveiled yesterday by President Donald Trump. Updated at 2:27 PM EDT Gold roared back to a fresh record high in late-morning trading, with spot prices rising 2.72% to $3,171.49 per ounce, taking the bullion's year-to-date advance to around 20%. Spot prices were last marked at around $3,164.50 per ounce. The moves suggest investors are shunning the U.S. dollar as...

President Donald Trump said Wednesday he will pause reciprocal tariffs for 90 days to more than 75 U.S. trading partners except for China, whose tariff rate he said will increase to 125%, effective immediately.U.S. markets reacted favorably, surging higher in afternoon trading. The Dow gained nearly 3,000 points and the S&P 500 rose 474. The Nasdaq rose more than 1,800.Trump's decision is the latest is a series of market-wrenching moves that have taken place since the president announced a series of tariffs on April 2. Stock market declines and a...

BENGALURU: Asian emerging market equities tanked for a fifth straight session on Wednesday as US President Donald Trump’s “reciprocal” tariffs on dozens of countries, including the eye-watering 104% levies on Chinese goods, went into effect. Indonesia’s rupiah hit a fresh lifetime low, while yields on the 10-year benchmark bonds crept higher towards a mid-January high as traders worried about the fallout of escalating trade tensions and domestic economic concerns. Trump’s punishing tariffs, including the massive levies on China, deepened the carnage in financial markets globally and caused a sell-off in...

By JAMIE BULLEN Updated: 08:37 EDT, 9 April 2025

Today’s live coverage has ended. Read what you missed below and follow the latest updates on President Donald Trump and his administration.Stocks surged to one of their biggest gains since World War II after President Donald Trump paused his tariffs against most other nations, as investors had desperately hoped he would. Trump, though, did raise tariffs further on China.The S&P 500 soared 9.5%, though the index is still below where it was when Trump announced his sweeping set of tariffs last week. The Dow Jones Industrial Average flew nearly 3,000...

Have you checked your 401k balance since President Donald Trump announced widespread tariffs last week on what he called “Liberation Day”? Chances are, it’s down — maybe way down. The markets have lost more than $11 trillion since Trump’s inauguration and more than half of that happened on Thursday and Friday, according to global investment research company Morningstar. On Monday, the CEO of the world’s largest asset manager, Larry Fink of Blackrock, said stock markets could fall by another 20% because of the tariffs and said the economy is probably...