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World Markets Mixed After Slow Day 03/26 06:14
World markets were mixed on Wednesday after a day of subdued trading on Wall
Street as investors awaited data releases later in the week and further
developments in U.S. President Donald Trump's trade agenda.
BANGKOK (AP) -- World markets were mixed on Wednesday after a day of subdued
trading on Wall Street as investors awaited data releases later in the week and
further developments in U.S. President Donald Trump's trade agenda.
European markets opened mostly lower, with Germany's DAX down 0.6% to
22,973.53. The CAC 40 in Paris lost 0.6% to 8,057.88, while Britain's FTSE 100
edged 0.2% higher.
The futures for the S&P 500 and the Dow Jones Industrial Average were 0.1%
lower.
In Asian trading, Hong Kong's Hang Seng rose 0.6% to 23,483.32, while the
Shanghai Composite index slipped less than 0.1%, to 3,368.70.
Tokyo's Nikkei 225 index added 0.7% to 38,027.29.
The Kospi in Seoul was up 1.1% at 2,643.94. In Australia, the S&P/ASX 200
gained 0.7% to 7,999.00.
Later this week, the U.S. is due to report on economic growth, personal
spending, orders of durable goods and other key data.
On Tuesday, the S&P 500 added 0.2% after jumping 1.8% Monday to one of its
best days of the past year, lifted by hopes that tariff increases might not be
as sweeping as earlier feared.. The Dow Jones Industrial Average inched up less
than 0.1%, while the Nasdaq composite rose 0.5%.
U.S. stocks have recovered a chunk of their losses since falling 10% below
their all-time high earlier this month, in their first "correction" since 2023.
The S&P 500 is down 6% from its record, and that drop has left the market
looking less expensive than before, which had been a major criticism following
its euphoric rise in earlier years.
But strategists along Wall Street warn that more sharp swings are still
likely on the way with an April 2 deadline looming. That's what Trump has
called "Liberation Day," when he will begin tariffs on trading partners that he
says will roughly equal what he sees as the burden each of them puts on the
United States.
Even if Trump's tariffs do end up being less painful for the global economy
than feared, all the dizzying talk about them has already soured confidence
among U.S. households and businesses. The fear is that could lead them to cut
back on their spending and freeze the economy.
A report on Tuesday showed that pessimism among U.S. households is only
worsening. The Conference Board's measure of consumer confidence fell by more
than expected, mostly because of a tumble for expectations about upcoming
conditions in the short term. That dropped to its lowest level in 12 years and
is sitting "well below the threshold of 80 that usually signals a recession
ahead."
Like other recent surveys, the data showed U.S. households are much more
concerned about where the economy is heading than where it is currently. So
far, actual economic activity and the job market seem to be holding up despite
the worsening moods of U.S. companies and consumers.
On Wall Street, Trump Media & Technology Group climbed 8.9% after the
company behind the president's Truth Social platform said it had reached an
agreement with Crypto.com to offer a suite of "America-First" investment funds.
The exchange-traded funds will hold bitcoin and other digital assets, along
with what TMTG called "securities with a Made in America focus spanning diverse
industries such as energy." Crypto.com will support the backend technology,
provide custody and supply the cryptocurrencies for the ETFs, which will
operate under TMTG's Truth.Fi brand.
Tesla rose 3.4% after drifting between modest gains and losses following
more grim sales figures from Europe. Its stock nevertheless remains down nearly
29% for 2025 so far.
In other dealings early Wednesday, U.S. benchmark crude oil gained 60 cents
to $69.60 per barrel. Brent crude, the international standard, was up 63 cents
at $73.02 per barrel.
The U.S. dollar rose to 150.22 Japanese yen from 149.86 yen late Tuesday.
The euro was unchanged at $1.0792.
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