Markets gave up on the ‘Trump put,’ but Bank of America says it’s alive and well
Treasury Secretary Scott Bessent has rejected suggestions the president will reorient his policies to support equity prices.
Treasury Secretary Scott Bessent has rejected suggestions the president will reorient his policies to support equity prices.
(Bloomberg) -- US equities will soon regain their long-held edge over European peers as the brighter outlook for the old continent’s stocks is limited to sectors such as defense and banks, according to Jean Boivin, head of the BlackRock Investment Institute.Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feeling the Impact
(Bloomberg) -- The UK’s planned pension reforms are likely to shield the gilt market from an expected rise in government bond issuance, according to Abdallah Nauphal, chief executive officer of Insight Investment.Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feeling the Impact.These US Bridges Face High Risk of Catastrop
US stock futures dropped after President Trump signed an executive order imposing 25% tariffs on car imports.
(Reuters) -Shares of global automakers took a dive on Thursday after President Donald Trump put a wall of tariffs around the U.S. automotive sector, exacerbating worries over the impact on global trade and potential hits to industry profits. Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would begin on April 3. Although the duties have been well flagged, shares in automakers across the globe tumbled on Thursday, with U.S. auto giant General Motors sliding 7% in premarket trading and Ford Motor shedding about 4%.
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Wall Street's forecasts are darkening amid economic uncertainty and tariff concerns. A slew of banks have slashed their outlook for stocks in recent weeks.
Tariffs will eat into earnings growth, limiting gains this year, Barclays wrote. The bank is the latest to lower its outlook for US stocks in 2025.
U.S. President Donald Trump said late on Wednesday the United States will effectively charge a 25% tariff on all cars not made in the country and that the new duties on cars and light trucks imported into the United States will be permanent. This exacerbates already weak European consumer sentiment for high-ticket cars.
Circle’s USDC stablecoin has reached a new all-time high, surpassing $60 billion in market capitalization.