Uncertainty continues to loom over the markets as April 2 approaches—the date when tariffs are anticipated to be imposed by the United States on its trading partners.
Former President Donald Trump’s pledge to enforce “reciprocal” tariffs beginning on April 2 has kept markets on edge for several trading sessions.
Wall Street was taken by surprise, closing in negative territory. The Dow Jones Industrial Average fell by 0.31%, the Nasdaq Composite dropped by 2.04%, and the broader S&P 500 index declined by 1.12%.
In Europe, the Paris Stock Exchange decreased by 0.96%, Frankfurt’s DAX fell by 1.17%, and Milan’s FTSE MIB declined by 0.83%.
However, the London Stock Exchange experienced a slight gain of 0.30% following announcements from the British government regarding its budget.
Around 8:40 PM in the foreign exchange market, the British pound was down 0.41% against the dollar, trading at $1.2892 per pound.
Oil prices gained momentum on Wednesday, buoyed by an unexpected decline in U.S. crude inventories.
The price of Brent crude for May delivery rose by 1.05%, reaching $73.79 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, also for May delivery, increased by 0.94%, reaching $69.65 per barrel.
