WORLD
Treasuries ‘fire sale’ sends long-term yields soaring worldwide
While the selling eased into the European trading day, speculation continued to swirl about the reasons investors were turning their backs on US sovereign debt.
BUSINESS
Amazon cancels some inventory orders from China after tariffs
The timing of the cancellations, which had no warning, led the vendors to suspect it was a response to tariffs.
WORLD
Jamie Dimon says recession is the 'likely outcome’ of tariff upheaval
In his annual shareholder letter released Monday, Dimon urged a quick resolution to uncertainties tied to the tariffs 'because some of the negative effects increase cumulatively over time and would be hard to reverse'
WORLD
EU adopts tariffs on €21 billion of US goods in metals dispute
The tariffs will target politically sensitive American states and include products such as soybeans from Louisiana, home to House Speaker Mike Johnson, as well as diamonds, agricultural products, poultry and motorcycles.
WORLD
Treasuries ‘fire sale’ sends long-term yields soaring worldwide
The yield on 30-year Treasuries surged as much as 25 basis points to a level unseen since November 2023
BUSINESS
EV maker Ather is said to consider smaller IPO amid market chaos
The potential smaller size is because the electric-vehicle maker’s existing investors are considering offering fewer shares in the sale
WORLD
Trump tariffs take effect in India, other economies in big blow to global economy
Trump’s latest tariffs push levies imposed on China this year to as high as 104%, along with import taxes on roughly 60 trading partners that run trade surpluses with the US
BUSINESS
Meta whistleblower to tell Congress that company aided China in AI race
Wynn-Williams, who served as director of global public policy for the company, will tell the Senate Judiciary Subcommittee on Crime and Counterterrorism on Wednesday that she witnessed executives undermining US national security.
BUSINESS
China engineers orderly Yuan drop as trade war threatens growth
The People’s Bank of China weakened the yuan’s daily reference rate for a fifth straight session on Wednesday, but moderated the pace of its adjustment.
BUSINESS
US raises charges on small parcels, targeting Chinese retailers
The US will tax imports of items priced up to $800 at the rate of 90% of their value, up from a previous plan to levy a 30% ad valorem tax, according to the amendment on reciprocal tariffs published by the White House Wednesday.
BUSINESS
Chinese stocks resume slide as Trump raises trade war stakes
The Hang Seng China Enterprises Index dropped as much as 4.4%, while the onshore CSI 300 Index fell 1.7% at its lowest. That drew a line under a brief rebound Tuesday.
BUSINESS
Asian stocks drop as Trump’s tariff deadline nears
In early Asian moves, Treasury yield curve steepened with the two-year note outperforming longer-dated debt amid speculation Federal Reserve will cut rates amid escalating trade war.
BUSINESS
Market calm is shattered as abrupt selloffs roil Wall Street
The worries about just such a wave of new US tariffs set off another rapid about-face in markets late in the day as Trump showed little interest in backing down.
WORLD
Elon Musk calls Peter Navarro a ‘moron’ as Trump tariff spat gets messy
In a flurry of posts on his social media platform X, Elon Musk called Navarro 'truly a moron' and mocked the trade adviser
BUSINESS
Cement maker Nuvoco Vistas seeks private loan for Vadraj takeover
The borrower is also in talks with alternative asset firms for the financing, the details of which could be subject to change
BUSINESS
Goldman warns oil below $40 is possible in ‘extreme’ scenario
The global oil market has been rocked in recent sessions as the Trump administration’s escalation of the trade war, plus pushback from some other economies including China, raised recessionary risks and headwinds for energy consumption.
BUSINESS
Billionaires seek to take companies private amid market mayhem
Despite many making efforts to diversify their assets, the super-rich aren’t immune to the market turmoil: The world’s 500 wealthiest people just suffered the biggest three-day loss ever on the Bloomberg Billionaires Index.
BUSINESS
Shriram Finance seeks RBI license to underwrite govt debt
The consumer loan provider has sought the Reserve Bank of India’s approval to set up a primary dealership, for which it plans to launch a separate entity
WORLD
China's central bank vows funding support to sovereign fund to stabilize market
China’s state-backed funds including Central Huijin earlier announced plans to buy local stocks in a bid to support the market hurt by US tariffs
BUSINESS
Chinese stocks rebound from historic rout as state funds step in
The Hang Seng China Enterprises Index rose as much as 3.5% after its worst day since the financial crisis on Monday, while the CSI 300 rose 0.7% following a 7.1% plunge.
BUSINESS
Elon Musk’s net worth falls below $300 billion for first time since November
Musk lost $4.4 billion on Monday after Tesla stock extended losses, taking his total fortune to $297.8 billion, according to the Bloomberg Billionaires Index.
BUSINESS
Asian stocks bounce back after worst day on record
Contracts for Hong Kong pointed to losses after a gauge of US-listed Chinese shares fell more than 5% after Trump threatened to slap additional 50% tariffs on China.
WORLD
Jamie Dimon says tariff policy issues must be resolved quickly
China responded with commensurate levies on all American goods and export controls on rare earths, and the European Union — America’s largest trading partner — has also vowed to enact countermeasures.
BUSINESS
Jaguar Land Rover’s US sales jumped ahead of Trump tariffs
Wholesale volumes for the three months through March rose more than 14% from a year earlier, the British luxury sport utility vehicle maker said Monday
