Global Markets Jitter as Trade Tensions and Fed Decision Loom
Global markets faced declines amid investor concerns over imminent earnings reports, U.S. trade threats towards China over Russian oil, and an upcoming Federal Reserve policy decision. Oil prices surged on tariff threats, while equity indices fluctuated as anticipation grew for corporate earnings and the Fed's stance on interest rates.
Global equity markets experienced a downturn as investors in the U.S. braced for major earnings announcements and anticipated a critical policy decision from the Federal Reserve. Key companies, including tech giants like Apple and Amazon, are set to release quarterly results, contributing to market volatility.
The oil market witnessed a significant uptick, with prices climbing over $2 due to heightened tensions between the U.S. and China. U.S. Treasury Secretary Scott Bessent issued a warning about tariffs, urging China to reconsider its oil purchases from Russia. This comes after President Trump threatened new measures against Russia amidst the ongoing conflict in Ukraine.
Meanwhile, the dollar gained strength against the euro, which saw a decline for the fourth consecutive day. Investors are also closely watching for inflation data and the Federal Reserve's policy statement, expected to hold interest rates steady despite President Trump's calls for rate cuts. Energy and stock markets remain precarious as trade talks and geopolitical issues unfold.
(With inputs from agencies.)
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