Wall Street's Resilience Amid Tariff Turmoil
Wall Street holds steady despite a federal appeals court reinstating Trump's tariffs. The S&P 500 remains up, while the dollar weakens against safe-haven currencies. Traders and investors remain cautious, awaiting a resolution to the volatile trade negotiations impacting global markets.
NEW YORK/SINGAPORE, May 29 (Reuters) - Wall Street displayed resilience on Thursday, maintaining its gains amidst fresh tariff turmoil. A federal appeals court reinstated President Donald Trump's tariffs, a day after a trade court blocked most of them from going into effect, yet the S&P 500 held firm.
The dollar on the other hand weakened against safe-haven currencies like the yen and Swiss franc, as investors tussled with the uncertainty and volatility the tariffs have reintroduced. Markets seem poised to navigate this unclear terrain, characterized by the back-and-forth nature of judicial rulings on Trump's trade policies.
As traders absorb these fluctuating developments and global markets cautiously await a more permanent resolution, the economic landscape continues to be marked by unpredictable shifts. These respondents expressed a sentiment of waiting for stability amidst ever-changing news and executive decisions impacting their trading strategies.
(With inputs from agencies.)
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