Global markets today: Asian markets largely declined on Thursday as investors weighed Japan’s export decline for a second straight month and U.S. President Donald Trump’s denial of plans to remove Federal Reserve Chairman Jerome Powell.
Japan’s Nikkei 225 index slipped 0.6 per cent, and the broader Topix edged down 0.11 per cent.
In South Korea, the Kospi fell 0.26 per cent, while the Kosdaq remained mostly unchanged. Meanwhile, Australia’s S&P/ASX 200 index bucked the trend, gaining 0.35 per cent.
The U.S. President on Wednesday dismissed the likelihood of taking such action, just hours after telling a group of Republican lawmakers that he intended to dismiss Powell.
Trump also said that Japanese imports would face a 25 per cent tariff, adding that he does not anticipate securing a more comprehensive agreement with Japan.
U.S. markets today
Wall Street indices ended slightly higher on Wednesday, with the Nasdaq Composite marking a fresh record close, despite a brief period of market turbulence sparked by reports suggesting that U.S. President Donald Trump might dismiss Federal Reserve Chair Jerome Powell.
Around midday, the S&P 500 and Nasdaq dropped over 1%, the dollar weakened sharply, and Treasury yields climbed, following a Bloomberg News report quoting an unnamed White House official about the potential removal of Powell.
Trump’s denial gave a boost to equity markets, with the Nasdaq Composite rising 52.69 points, or 0.26 per cent, to close at 20,730.49—marking its fifth record close in six sessions. The Dow Jones Industrial Average climbed 231.49 points, or 0.53 per cent, to 44,254.78, while the S&P 500 added 19.94 points, or 0.32 per cent, ending the day at 6,263.70.
(With inputs from agencies)
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