The past week was a rollercoaster ride for the markets, with recession fears, record gold prices, and escalating trade wars dominating headlines. The Nasdaq and S&P 500 hit six-month lows, while gold soared to new heights.
Meanwhile, China imposed tariffs on its largest U.S. import, soybeans, and other agricultural products, causing a stir in the market. Amidst all this, there was a glimmer of hope as tech stocks and Bitcoin rebounded following Ukraine’s acceptance of a U.S.-backed ceasefire proposal with Russia.
Recession Fears Drive Markets Lower
The Nasdaq 100 and S&P 500, tracked by SPDR S&P 500, saw significant declines this week, with tech giants like Tesla, Inc. and Palantir Technologies, Inc. leading the downward trend. President Donald Trump’s acknowledgment of a potential U.S. recession in a Fox News interview added to the market’s concerns.
Read the full article here.
Also Read: Taiwan Semiconductor Chief Says US Expansion Not Driven By Political Pressure, But AI Boom, Warns of Supply Shortage
Gold Hits Record Highs Amid Trade War Fears
Gold continued its strong rise, hitting a fresh record as investors sought safe havens amidst mounting trade tensions and economic uncertainty. Spot gold, tracked by the SPDR Gold Trust, traded at $2,969 per ounce, marking its third consecutive session of gains.
Read the full article here.
China Imposes Tariffs On Major US Agricultural Imports
In retaliation to President Donald Trump’s additional 10% levy on Chinese imports, China imposed tariffs on major U.S. agricultural imports, including soybeans. This move is likely to impact many agricultural product manufacturers, suppliers, and related businesses, such as Bunge Global and Archer-Daniels Midland.
Read the full article here.
Markets Bounce Back As Ukraine Accepts Ceasefire Proposal
Markets rebounded as Ukraine signaled its readiness to accept a U.S.-backed proposal for a 30-day ceasefire with Russia. This development was seen as a step towards de-escalation, triggering a relief rally in riskier assets like stocks and cryptocurrencies.
Read the full article here.
Warren Buffett’s Take On Tariffs
Legendary investor Warren Buffett characterized tariffs as "an act of war" and a consumer tax. His comments came amidst market turmoil following President Donald Trump’s implementation of 25% tariffs on Canadian and Mexican imports.
Read the full article here.
Also Read:
This story was generated using Benzinga Neuro and edited by Ananya Gairola