Zürcher Nachrichten - Trump tariff worries trip up stocks rally

EUR -
AED 3.849071
AFN 71.56307
ALL 98.465648
AMD 409.468215
ANG 1.893231
AOA 955.718831
ARS 1054.749619
AUD 1.614472
AWG 1.886288
AZN 1.782519
BAM 1.960492
BBD 2.120976
BDT 125.530419
BGN 1.955562
BHD 0.394986
BIF 3103.196944
BMD 1.047938
BND 1.415574
BOB 7.285435
BRL 6.079039
BSD 1.050514
BTN 88.559806
BWP 14.350343
BYN 3.437727
BYR 20539.583235
BZD 2.117468
CAD 1.478023
CDF 3007.581455
CHF 0.929259
CLF 0.037074
CLP 1022.998268
CNY 7.586809
CNH 7.612525
COP 4594.945795
CRC 535.319825
CUC 1.047938
CUP 27.770355
CVE 110.527404
CZK 25.320383
DJF 187.057666
DKK 7.458693
DOP 63.30425
DZD 140.071563
EGP 51.976684
ERN 15.719069
ETB 130.985724
FJD 2.385055
FKP 0.827155
GBP 0.834903
GEL 2.860704
GGP 0.827155
GHS 16.544594
GIP 0.827155
GMD 74.40381
GNF 9052.578203
GTQ 8.111179
GYD 219.775967
HKD 8.155697
HNL 26.545275
HRK 7.475213
HTG 137.878655
HUF 410.760113
IDR 16678.246381
ILS 3.821337
IMP 0.827155
INR 88.337079
IQD 1376.09326
IRR 44105.092296
ISK 145.129213
JEP 0.827155
JMD 166.717396
JOD 0.743407
JPY 161.017234
KES 135.70087
KGS 90.949906
KHR 4216.049598
KMF 491.430873
KPW 943.143731
KRW 1465.744813
KWD 0.322524
KYD 0.875395
KZT 524.545339
LAK 23070.211523
LBP 94069.025555
LKR 305.681556
LRD 189.077086
LSL 18.992854
LTL 3.094288
LVL 0.633887
LYD 5.141304
MAD 10.554058
MDL 19.202956
MGA 4908.747592
MKD 61.56337
MMK 3403.661487
MNT 3560.892996
MOP 8.418247
MRU 41.772186
MUR 49.588583
MVR 16.191014
MWK 1821.559347
MXN 21.56301
MYR 4.679056
MZN 66.935227
NAD 18.992854
NGN 1763.815703
NIO 38.652133
NOK 11.634516
NPR 141.698761
NZD 1.793324
OMR 0.403444
PAB 1.050514
PEN 3.978622
PGK 4.231643
PHP 61.81779
PKR 291.766354
PLN 4.315041
PYG 8184.587316
QAR 3.832098
RON 4.978336
RSD 117.014826
RUB 108.987644
RWF 1434.318918
SAR 3.935285
SBD 8.792818
SCR 14.272552
SDG 630.332048
SEK 11.536377
SGD 1.412348
SHP 0.827155
SLE 23.785419
SLL 21974.73918
SOS 600.330981
SRD 37.195469
STD 21690.199169
SVC 9.191998
SYP 2632.975314
SZL 18.987441
THB 36.352603
TJS 11.197577
TMT 3.678262
TND 3.331979
TOP 2.45438
TRY 36.278175
TTD 7.135076
TWD 34.036696
TZS 2777.035195
UAH 43.594831
UGX 3892.31507
USD 1.047938
UYU 44.775876
UZS 13476.251302
VES 48.817455
VND 26630.722396
VUV 124.413296
WST 2.925414
XAF 657.52431
XAG 0.034524
XAU 0.000399
XCD 2.832105
XDR 0.803523
XOF 657.530599
XPF 119.331742
YER 261.905872
ZAR 18.978345
ZMK 9432.70014
ZMW 28.966322
ZWL 337.435583
  • RBGPF

    0.8100

    61

    +1.33%

  • CMSC

    0.0578

    24.73

    +0.23%

  • NGG

    0.1500

    63.26

    +0.24%

  • RELX

    -0.1800

    46.57

    -0.39%

  • RYCEF

    0.0200

    6.79

    +0.29%

  • SCS

    0.4500

    13.72

    +3.28%

  • VOD

    0.1800

    8.91

    +2.02%

  • BCC

    8.7200

    152.5

    +5.72%

  • RIO

    0.6300

    62.98

    +1%

  • BCE

    0.2500

    27.02

    +0.93%

  • JRI

    0.1600

    13.37

    +1.2%

  • CMSD

    0.1200

    24.58

    +0.49%

  • GSK

    0.1900

    34.15

    +0.56%

  • AZN

    0.7700

    66.4

    +1.16%

  • BTI

    -0.0500

    37.33

    -0.13%

  • BP

    -0.4000

    29.32

    -1.36%

Trump tariff worries trip up stocks rally
Trump tariff worries trip up stocks rally / Photo: STR - AFP

Trump tariff worries trip up stocks rally

A stocks rally following Donald Trump's re-election lost steam Tuesday on worries of a possible trade war between China and the United States, analysts said.

Text size:

Wall Street's main indices opened narrowly mixed, with the Nasdaq Composite dipping less than a tenth of a percent.

"Maybe, just maybe the stock market will see some profit-taking interest today after scoring huge gains in the wake of last week's election," said Briefing.com analyst Patrick O'Hare.

"The resolve of the bears, therefore, is going to be tested with the ongoing show of resilience," he added.

European stocks were lower across the board in afternoon trading, while leading Asian markets closed the day with hefty losses.

Chinese stocks were already under pressure from disappointment about Beijing's lack of extra measures to boost China's stuttering economy.

Hong Kong finished nearly three percent lower.

The sell-off came despite another record close Monday on Wall Street, fuelled by expectations that Trump will launch tax cuts and other business-friendly policies.

Seen as inflationary measures that will keep interest rates high, the dollar was firm again Tuesday.

Trump's support for cryptocurrency pushed bitcoin to a record high nearing $90,000 at one point Tuesday.

The Republican has meanwhile pledged to impose tough tariffs on imports into the United States, including as much as 60 percent on goods from China.

Trump's decision to pick China hawks for key positions in his cabinet has added to fears that the next few years could be bumpy.

"The latest moves from Trump's camp... are sending chills through the markets and casting a decidedly icy glow on US-China relations," noted independent analyst Stephen Innes.

Analysts are also expecting tariffs on European imports, hurting the region's top stock markets.

The dollar extended gains against its peers that started after news of Trump's election, which has sparked bets on a pick-up in inflation that could complicate the Federal Reserve's plans to lower US interest rates.

The latest reading of the US consumer price index due Wednesday will be closely watched as investors try to ascertain the central bank's plans for next month's monetary policy meeting.

"We assume the Trump administration will deliver on their key policy proposals with the degree and timing of these policies the bigger uncertainty," said National Australia Bank's Rodrigo Catril.

"Most of these policies (lower taxes, tariffs, immigration, deregulation, unfunded expansionary fiscal policy) can be regarded as pro-growth and or inflationary.

"This means, all else equal, a shallower Fed easing cycle and a stronger dollar," Catril added.

- Key figures around 1430 GMT -

New York - Dow: UP 0.2 percent at 44,360.72 points

New York - S&P 500: UP less than 0.7 percent at 6,005.32

New York - Nasdaq Composite: DOWN less than 0.1 percent at 19,286.21

London - FTSE 100: DOWN 0.9 percent at 8,051.24

Paris - CAC 40: DOWN 1.4 percent at 7,323.48

Frankfurt - DAX: DOWN 1.0 percent at 19,249.64

Tokyo - Nikkei 225: DOWN 0.4 percent at 39,376.09 (close)

Hong Kong - Hang Seng Index: DOWN 2.8 percent at 19,846.88 (close)

Shanghai - Composite: DOWN 1.4 percent at 3,421.97 (close)

Dollar/yen: UP at 154.48 yen from 153.81 yen on Monday

Euro/dollar: DOWN at $1.0617 from $1.0648

Pound/dollar: DOWN at $1.2794 from $1.2872

Euro/pound: UP at 83.01 pence from 82.73 pence

Brent North Sea Crude: UP 1.3 percent at $72.74 per barrel

West Texas Intermediate: UP 1.5 percent at $69.07 per barrel

burs-rl/yad

Y.Keller--NZN