Asia markets down as Trump tariff threats, potentially higher-for-longer U.S. rates dent sentiment
Melbourne, Australia, at night.
James O’Neil | Getty Image
Asia-Pacific markets fell Thursday, as investors weighed U.S. President Donald Trump’s proposed tariffs on autos, chips and pharmaceutical imports as well as the Federal Reserve potentially keeping rates higher for longer.
Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.
Mainland China’s CSI 300 started the day 0.37% lower, while Hong Kong’s Hang Seng index fell 1.13%.
Japan’s benchmark Nikkei 225 dropped 1.19%, while the broader Topix index fell 1.06%.
In South Korea, the Kospi declined 0.53%, while the small-cap Kosdaq lost 0.17%.
Australia’s S&P/ASX 200 was down 1.39%, declining for the fourth straight day.
The country’s seasonally adjusted unemployment rate rose to 4.1% in January, in line with Reuters’ estimates.
Overnight in the U.S., stocks continued to rise even as the Federal Reserve meeting minutes showed the bank was concerned about U.S. President Donald Trump tariffs, and would prefer a further decline in inflation before lowering rates.
The S&P 500 rose 0.24%, settling at 6,144.15 and earning its second record close in a row. The index also touched a fresh all-time high during the session. The Nasdaq Composite added 0.07% to close at 20,056.25, while the Dow Jones Industrial Average advanced 71.25 points, or 0.16%, to end at 44,627.59.
— CNBC’s Brian Evans and Pia Singh contributed to this report.
Source – Middle east monitor
