- Barry Adams
- 10 Mar, 2025
- New York City
Benchmark indexes on Wall Street plunged in Monday's trading and extended losses to the fourth consecutive week amid rising worries of economic slowdown.
The S&P 500 index decreased 1.8%, and the Nasdaq Composite dropped 2.7% as investors factor in the negative impact of U.S. tariffs on global economic growth.
Last week, Wall Street indexes turned sharply lower for the third consecutive week and extended 2025’s losses amid self-inflicted policy harms engineered by the U.S. president.
Over the week, the S&P 500 declined 3.1%, and the Nasdaq Composite dropped 3.5%.
In the year so far, the S&P 500 is down 3.6% and the Nasdaq Composite has fallen 8.6%, as of 10:30 a.m. ET Monday.
Amid a high level of uncertainty, investors are increasingly seeking stability in U.S. Treasuries and selling stocks.
Donald Trump’s constant state of confusion and flip-flops are unnerving investors, stoking fears of stagflation and rate cut delays.
The U.S. economy, once the envy of the developed world, was on sound footing and flashing green on all key metrics; it is now teetering on recession.
Moreover, the Trump administration’s lack of competence is visible in how the president announces tariffs, then walks back or allows loopholes, followed by more exemptions to water down initial measures.
Rendering the initial tariff ineffective.
World markets are increasingly ignoring Trump, as companies find ways around import taxes and other stable trading partners.
In addition, Trump's uncertainty is spreading beyond tariffs to immigration, federal budgets, and taxes.
In the week ahead, investors are looking forward to the release of consumer price and producer price inflation reports on Wednesday and Thursday, respectively.
Moreover, the JOLTS job opening report is also expected to confirm moderating but strong labor market conditions.
On the earnings front in the U.S., investors are looking ahead to the release of results from Ciena, Oracle, Ulta Beauty, DocuSign, Vail Resort, Dick’s Sporting Goods, Dollar General, and Kohl’s.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 2% to 5,654.24, the Nasdaq Composite edged down 3.4% to 17,581.08, and the Russell 2000 index was down 1.9% to 2,035.05.
The yield on 2-year Treasury notes edged lower to 3.93%, 10-year Treasury notes decreased to 4.22%, and 30-year Treasury bonds declined to 4.54%.
WTI crude oil decreased $0.40 to $66.63 a barrel, and natural gas prices edged higher by $0.07 to $4.47 a thermal unit.
Gold decreased by $7.67 to 2,903.79 an ounce, and silver edged down by $0.31 to $32.20.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.02 to 103.81 and traded at a two-year high.
U.S. Stock Movers
Tesla decreased 3.3% to $241.54, and the electric vehicle maker has declined every week in 2025 after chief executive officer Elon Musk decided to spend more time in Washington, D.C.
Tesla has plunged more than 40% in 2025 and scaled back from its high of $488 reached in mid-December.
Large bank stocks declined sharply in Monday's trading on the worries that the economic slowdown could impact earnings in 2025.
Bank of America decreased 2.3% to $40.45, JPMorgan Chase fell 3.3% to $234.03, Wells Fargo dropped 4.3% to $68.06, and Citigroup declined 4.3% to $67.45.
- Barry Adams
- 10 Mar, 2025
- New York City
Benchmark indexes on Wall Street plunged in Monday's trading and extended losses to the fourth consecutive week amid rising worries of economic slowdown.
The S&P 500 index decreased 1.8%, and the Nasdaq Composite dropped 2.7% as investors factor in the negative impact of U.S. tariffs on global economic growth.
Last week, Wall Street indexes turned sharply lower for the third consecutive week and extended 2025’s losses amid self-inflicted policy harms engineered by the U.S. president.
Over the week, the S&P 500 declined 3.1%, and the Nasdaq Composite dropped 3.5%.
In the year so far, the S&P 500 is down 3.6% and the Nasdaq Composite has fallen 8.6%, as of 10:30 a.m. ET Monday.
Amid a high level of uncertainty, investors are increasingly seeking stability in U.S. Treasuries and selling stocks.
Donald Trump’s constant state of confusion and flip-flops are unnerving investors, stoking fears of stagflation and rate cut delays.
The U.S. economy, once the envy of the developed world, was on sound footing and flashing green on all key metrics; it is now teetering on recession.
Moreover, the Trump administration’s lack of competence is visible in how the president announces tariffs, then walks back or allows loopholes, followed by more exemptions to water down initial measures.
Rendering the initial tariff ineffective.
World markets are increasingly ignoring Trump, as companies find ways around import taxes and other stable trading partners.
In addition, Trump's uncertainty is spreading beyond tariffs to immigration, federal budgets, and taxes.
In the week ahead, investors are looking forward to the release of consumer price and producer price inflation reports on Wednesday and Thursday, respectively.
Moreover, the JOLTS job opening report is also expected to confirm moderating but strong labor market conditions.
On the earnings front in the U.S., investors are looking ahead to the release of results from Ciena, Oracle, Ulta Beauty, DocuSign, Vail Resort, Dick’s Sporting Goods, Dollar General, and Kohl’s.
U.S. Movers
Tesla decreased 3.3% to $241.54, and the electric vehicle maker has declined every week in 2025 after chief executive officer Elon Musk decided to spend more time in Washington, D.C.
Tesla has plunged more than 40% in 2025 and scaled back from its high of $488 reached in mid-December.
Large bank stocks declined sharply in Monday's trading on the worries that the economic slowdown could impact earnings in 2025.
Bank of America decreased 2.3% to $40.45, JPMorgan Chase fell 3.3% to $234.03, Wells Fargo dropped 4.3% to $68.06, and Citigroup declined 4.3% to $67.45.
- Inga Muller
- 10 Mar, 2025
- Frankfurt
ATOSS Software SE eased 0.7% to €118.00 after the workforce management provider reported results for fiscal 2024.
Revenue surged 13% to €170.6 million from €108.2 million, net profit jumped to €45.5 million from €35.8 million, and earnings per share rose to €2.86 from €2.25 a year ago.
The company guided for fiscal 2025 revenue growth of 70% and the addition of more than 20,000 new international customers.
ATOSS launched a reverse stock split of the shares, with the effective date April 24 and the start date of the reverse stock split operations March 25.
Clarkson Plc. plunged 18% to 3.616 pence after the provider of integrated shipping services' outlook overshadowed company's 2024 results.
Revenue increased to £661.4 million from £639.4 million, profit jumped to £84.9 million from £83.8 million, and earnings per diluted share rose to 275.2 pence from 273.6 pence a year ago.
The company proposed a 7% increase in final dividend to 77 pence per share, bringing the total dividend for 2024 to 109 pence per share.
The company's cautious outlook and the decline in freight rates in recent weeks pushed the stock down sharply.
“2025 has started with more uncertainty than most due to political change, ongoing regional conflicts, increased trade tensions, tariffs and sanctions, inflation and changing monetary policy across global economies,” said chief executive Andi Case.
"However, following a year of extensive political change, ongoing conflicts in the Middle East and Russia-Ukraine, adding further complexities, markets have softened as economies grapple with the immediate impacts of this phase of change," the company said in a statement released to investors.
GlobalData Plc dropped 1.09% to 181.00 pence after the UK-based provider of proprietary data, analytics and insights to multiple sectors reported results for the fiscal 2024.
Revenue increased 5% to £285.5 million from £273.1 million, profit before tax surged 32% to £54.9 million from £41.5 million, and earnings per diluted share fell 3% to 3.7 pence from 3.8 pence a year ago.
The company proposed a final dividend of 1.0 pence per share, down from 3.2 pence in 2023, payable on May 2 to shareholders on record as of March 21.
- Inga Muller
- 10 Mar, 2025
- Frankfurt
ATOSS Software SE eased 0.7% to €118.00 after the workforce management provider reported results for fiscal 2024.
Revenue surged 13% to €170.6 million from €108.2 million, net profit jumped to €45.5 million from €35.8 million, and earnings per share rose to €2.86 from €2.25 a year ago.
The company guided for fiscal 2025 revenue growth of 70% and the addition of more than 20,000 new international customers.
ATOSS launched a reverse stock split of the shares, with the effective date April 24 and the start date of the reverse stock split operations March 25.
Clarkson Plc. plunged 18% to 3.616 pence after the provider of integrated shipping services' outlook overshadowed company's 2024 results.
Revenue increased to £661.4 million from £639.4 million, profit jumped to £84.9 million from £83.8 million, and earnings per diluted share rose to 275.2 pence from 273.6 pence a year ago.
The company proposed a 7% increase in final dividend to 77 pence per share, bringing the total dividend for 2024 to 109 pence per share.
The company's cautious outlook and the decline in freight rates in recent weeks pushed the stock down sharply.
“2025 has started with more uncertainty than most due to political change, ongoing regional conflicts, increased trade tensions, tariffs and sanctions, inflation and changing monetary policy across global economies,” said chief executive Andi Case.
"However, following a year of extensive political change, ongoing conflicts in the Middle East and Russia-Ukraine, adding further complexities, markets have softened as economies grapple with the immediate impacts of this phase of change," the company said in a statement released to investors.
GlobalData Plc dropped 1.09% to 181.00 pence after the UK-based provider of proprietary data, analytics and insights to multiple sectors reported results for the fiscal 2024.
Revenue increased 5% to £285.5 million from £273.1 million, profit before tax surged 32% to £54.9 million from £41.5 million, and earnings per diluted share fell 3% to 3.7 pence from 3.8 pence a year ago.
The company proposed a final dividend of 1.0 pence per share, down from 3.2 pence in 2023, payable on May 2 to shareholders on record as of March 21.
- Bridgette Randall
- 10 Mar, 2025
- London
European markets traded down amid worries of escalating trade tensions and their impact on the global growth downturn and supply chains.
Benchmark indexes in Frankfurt and Madrid decreased as much as 1%, and they fell more than 0.3% in Paris, London, and Milan.
Defense stocks advanced for the third week in a row after European leaders accepted the latest plan of setting up an €800 billion fund to finance arms production in the region.
Moreover, last week, Germany's leading political party's leader, Friedrich Merz, announced the setting up of a fund of €500 billion to invest in failing infrastructure and accelerate arms production.
European leaders agreed to accelerate arms production after the U.S. president announced his unwillingness to fund the three-year Russia-Ukraine conflict and pushed for an immediate ceasefire, a sharp reversal of long-term policy.
Market sentiment was also dented after Germany's exports struggled to advance, confirming slowing demand for its products and rising competition from Asia.
German Exports Struggled to Advance In January
Calendar and seasonally adjusted goods exports decreased 0.1% to €129.2 billion, imports jumped 8.7% to €113.1 billion, and the trade surplus was €16 billion.
Exports to the member states of the European Union were €69.8 billion, a decline of 4.2% from December, and imports fell 1.1% to €57 billion.
Exports to Germany's largest trading partner decreased 4.2% to €13 billion, to China decreased 0.9% to €6.7 billion, and declined 1.7% to €6.8 billion.
Most imports in Germany came from the People's Republic of China, and shipments fell 2.8% to €12.9 billion; however, imports from the U.S. rose by 6.5% to €8 billion.
Imports from the U.K. soared 18.8% to €3.6 billion.
German Monthly Industrial Production Rebounded In January
Separately, the statistical agency said industrial production declined 1.6% from a year ago in January.
On a monthly basis, production increased 2%, driven by a 6.4% rise in automobile production, energy production decreased 0.5%, and construction output inched higher by 0.4%.
In January 2025, production in industry excluding energy and construction was up 2.6% from December 2024 after seasonal and calendar adjustment, with intermediate goods production rising by 3.3%. The production of capital goods and the production of consumer goods both increased by 2.4%.
This week, investors are awaiting the release of Germany’s final inflation data and wholesale prices.
Industrial production in the eurozone is likely to rebound in January, and the UK’s industrial production and manufacturing are expected to show contraction.
On the earnings front in Europe, investors are awaiting the release of results from Volkswagen, BMW, Daimler Truck, Swiss Life, Bechtel, Clarkson, Persimmon, Hannover Re, Generali, De Longhi, Bollore, and Fraport.
Europe Indexes and Yields
The DAX index decreased by 0.5% to 22,885.88, the CAC-40 index edged lower 0.3% to 8,099.89, and the FTSE 100 index declined by 0.3% to 8,653.99.
The yield on 10-year German bonds inched lower to 2.83%, French bonds decreased to 3.54%, the UK gilts moved down to 4.60%, and Italian bonds edged lower to 3.88%.
The euro increased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was lower and traded at 87.75 Swiss cents.
Brent crude increased $0.20 to $70.56 a barrel, and the Dutch TTF natural gas was higher by €1.85 to €40.62 per MWh.
Europe Stock Movers
Watches of Switzerland rose 2.7% to 462.0 pence after the specialty retailer announced a stock repurchase program.
Assura Plc soared 14.2% to 46.54 pence after the KKR-led consortium raised its takeover bid for the healthcare properties manager to $2.08 billion.
Deliveroo PLC rose 1.6% to 127.10 pence, and the company announced its plans to end its Hong Kong operations.
- Bridgette Randall
- 10 Mar, 2025
- London
European markets traded down amid worries of escalating trade tensions and their impact on the global growth downturn and supply chains.
Benchmark indexes in Frankfurt and Madrid decreased as much as 1%, and they fell more than 0.3% in Paris, London, and Milan.
Defense stocks advanced for the third week in a row after European leaders accepted the latest plan of setting up an €800 billion fund to finance arms production in the region.
Moreover, last week, Germany's leading political party's leader, Friedrich Merz, announced the setting up of a fund of €500 billion to invest in failing infrastructure and accelerate arms production.
European leaders agreed to accelerate arms production after the U.S. president announced his unwillingness to fund the three-year Russia-Ukraine conflict and pushed for an immediate ceasefire, a sharp reversal of long-term policy.
Market sentiment was also dented after Germany's exports struggled to advance, confirming slowing demand for its products.
Calendar and seasonally adjusted goods exports decreased 0.1% to €129.2 billion, imports jumped 8.7% to €113.1 billion, and the trade deficit was €16 billion.
Exports to the member states of the European Union were €69.8 billion, a decline of 4.2% from December, and imports fell 1.1% to €57 billion.
Exports to Germany's largest trading partner decreased 4.2% to €13 billion, to China decreased 0.9% to €6.7 billion, and declined 1.7% to €6.8 billion.
Most imports in Germany came from the People's Republic of China, and shipments fell 2.8% to €12.9 billion, however, imports from the U.S. rose by 6.5% to €8 billion.
Imports from the U.K. soared 18.8% to €3.6 billion.
This week, investors are awaiting the release of Germany’s final inflation data and wholesale prices.
Industrial production in the eurozone is likely to rebound in January, and the UK’s industrial production and manufacturing are expected to show contraction.
On the earnings front in Europe, investors are awaiting the release of results from Volkswagen, BMW, Daimler Truck, Swiss Life, Bechtel, Clarkson, Persimmon, Hannover Re, Generali, De Longhi, Bollore, and Fraport.
Europe Indexes and Yields
The DAX index decreased by 0.5% to 22,885.88, the CAC-40 index edged lower 0.3% to 8,099.89; and the FTSE 100 index declined by 0.3% to 8,653.99.
The yield on 10-year German bonds inched lower to 2.83%, French bonds decreased to 3.54%, the UK gilts moved down to 4.60%, and Italian bonds edged lower to 3.88%.
The euro increased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was lower and traded at 87.75 Swiss cents.
Brent crude increased $0.20 to $70.56 a barrel, and the Dutch TTF natural gas was higher by €1.85 to €40.62 per MWh.
Europe Stock Movers
Watches of Switzerland rose 2.7% to 462.0 pence after the specialty retailer announced a stock repurchase program.
Assura Plc soared 14.2% to 46.54 pence after the KKR-led consortium raised its takeover bid for the healthcare properties manager to $2.08 billion.
Deliveroo PLC rose 1.6% to 127.10 pence, and the company announced its plans to end its Hong Kong operations.
- Akira Ito
- 10 Mar, 2025
- Tokyo
Stock market indexes in Japan closed mixed on Monday following a week of turbulent trading.
The Nikkei 225 stock average gained 0.4%, and the TOPIX decreased 0.3%, and the yen continued to retain an upward bias.
The yen closed at 147.14 against the U.S. dollar as currency traders renewed their bets that the Bank of Japan is more likely to raise at the next policy meeting later in the month.
Japan's real wages adjusted for inflation decreased 1.8% from a year ago in January, according to data released by the Ministry of Health, Labor, and Welfare.
Nominal cash earnings, including base wages and overtime, increased 2.8% to 295,500 yen and advanced for the 37th consecutive month.
However, the increase in wages was overshadowed by a 4.7% rise in consumer prices used for the salary and wage calculations.
Higher food prices and the elimination of government subsidies for fuel played a key role in the rebound in inflation.
Real wages at businesses with 30 or more employees decreased 0.7% from a year ago in January, a decline for the first time in five months.
Investors are awaiting the spring wage negotiations results on Wednesday, and most large businesses are bracing for the wage growth to match the increase in the previous year.
The Electrical Electronic & Information Union, a labor union of workers, said it is prepared to settle for a wage increase of 10,000 yen per month, matching the increase in the last year and the highest since the record keeping began in 1998.
Separately, Japan posted its first current account deficit in two years in January, after imports rose at a faster pace than exports, according to a preliminary report released by the Finance Ministry.
The current account balance in January swung to a deficit of 257.6 billion yen, or $1.7 billion, from a surplus of 334.3 billion yen after a weaker yen played a key role in inflating imports.
The widest measure of international trade swung to a deficit after Japanese companies stepped up imports of electronic parts from China ahead of the Lunar New Year.
Exports rose 2.1% from a year ago to 7.5 trillion yen, imports advanced 17.7% to 10.44 trillion yen, and the trade deficit nearly doubled to 2.94 trillion yen.
Primary income, which tracks earnings from overseas investments by Japanese companies, soared 20.5% to 3.6 trillion yen, driven by higher dividends from international subsidiaries of the automotive corporations amid the yen's depreciation.
The ministry added that the yen weakened 6.8% from a year ago to 156.49 against the U.S. dollar in January.
Japan Indexes and Stocks
The Nikkei 225 Stock Average closed up 0.4% to 37,028.27, and the broader TOPIX fell 0.3% to 2,700.76.
Semiconductor equipment stocks advanced in Monday's trading following a rebound in tech stocks in Friday's trading in New York.
Tokyo Electron rose 1.7% to ¥21,475.0, Advantest Corp. added 3.7% to ¥7,789.0, and Disco Corp. increased 1.7% to ¥33,020.0.
Seven & I Holdings increased 1.3% to ¥2,120.0, Isetan Mitsukoshi decreased 1.9% to ¥2,220.50, and Fast Retailing declined 0.7% to ¥45,660.0.
- Akira Ito
- 10 Mar, 2025
- Tokyo
Stock market indexes in Japan closed mixed on Monday following a week of turbulent trading.
The Nikkei 225 stock average gained 0.4%, and the TOPIX decreased 0.3%, and the yen continued to retain an upward bias.
The yen closed at 147.14 against the U.S. dollar as currency traders renewed their bets that the Bank of Japan is more likely to raise at the next policy meeting later in the month.
Japan's real wages adjusted for inflation decreased 1.8% from a year ago in January, according to data released by the Ministry of Health, Labor, and Welfare.
Nominal cash earnings, including base wages and overtime, increased 2.8% to 295,500 yen and advanced for the 37th consecutive month.
However, the increase in wages was overshadowed by a 4.7% rise in consumer prices used for the salary and wage calculations.
Higher food prices and the elimination of government subsidies for fuel played a key role in the rebound in inflation.
Real wages at businesses with 30 or more employees decreased 0.7% from a year ago in January, a decline for the first time in five months.
Investors are awaiting the spring wage negotiations results on Wednesday, and most large businesses are bracing for the wage growth to match the increase in the previous year.
The Electrical Electronic & Information Union, a labor union of workers, said it is prepared to settle for a wage increase of 10,000 yen per month, matching the increase in the last year and the highest since the record keeping began in 1998.
Separately, Japan posted its first current account deficit in two years in January, after imports rose at a faster pace than exports, according to a preliminary report released by the Finance Ministry.
The current account balance in January swung to a deficit of 257.6 billion yen, or $1.7 billion, from a surplus of 334.3 billion yen after a weaker yen played a key role in inflating imports.
The widest measure of international trade swung to a deficit after Japanese companies stepped up imports of electronic parts from China ahead of the Lunar New Year.
Exports rose 2.1% from a year ago to 7.5 trillion yen, imports advanced 17.7% to 10.44 trillion yen, and the trade deficit nearly doubled to 2.94 trillion yen.
Primary income, which tracks earnings from overseas investments by Japanese companies, soared 20.5% to 3.6 trillion yen, driven by higher dividends from international subsidiaries of the automotive corporations amid the yen's depreciation.
The ministry added that the yen weakened 6.8% from a year ago to 156.49 against the U.S. dollar in January.
Japan Indexes and Stocks
The Nikkei 225 Stock Average closed up 0.4% to 37,028.27, and the broader TOPIX fell 0.3% to 2,700.76.
Semiconductor equipment stocks advanced in Monday's trading following a rebound in tech stocks in Friday's trading in New York.
Tokyo Electron rose 1.7% to ¥21,475.0, Advantest Corp. added 3.7% to ¥7,789.0, and Disco Corp. increased 1.7% to ¥33,020.0.
Seven & I Holdings increased 1.3% to ¥2,120.0, Isetan Mitsukoshi decreased 1.9% to ¥2,220.50, and Fast Retailing declined 0.7% to ¥45,660.0.
- Li Chen
- 10 Mar, 2025
- Hong Kong
Market sentiment weakened in Monday's trading following the release of inflation reports.
The Hang Seng index declined 1.8%, and the mainland-focused CSI 300 index decreased 0.4% after two key inflation reports confirmed an ongoing economic slowdown and weak consumer spending.
The consumer price inflation declined 0.7% from a year ago in February, according to a report released by the National Bureau of Statistics.
Retail inflation reversed the 0.5% increase in the previous month and fell for the first time since January 2024.
Demand waned after the ending of the Spring festival amid a fall in prices for food and transportation.
Core inflation, which excludes volatile food and energy prices, decreased 0.1%.
In addition, China's producer price deflation extended to the 29th consecutive month in February, and the measure of prices charged by manufacturers declined 2.2% from a year ago.
Household spending has remained subdued because of several factors negatively impacting consumer sentiment—rising trade tensions with the U.S., the ending of rebates for household supplies and electric vehicles, front-loading by U.S. importers ahead of tariffs, and protracted recovery in the residential real estate market.
China Indexes and Markets
The Hang Seng index dropped 1.8% to 23,801.87, and the mainland-focused CSI 300 index fell 0.4% to 3,928.77.
Technology and property stocks led the decliners for the second week in a row.
Alibaba Group dropped 3.8% to HK $134.70, Meituan fell 4.8% to HK $174.80, and JD.com plunged 4.5% to HK $162.40.
China Vanke dropped 2.4% to HK $6.19, Longfor Group Holdings Ltd declined 1% to HK $10.82, and Sun Hung Kai Properties edged up 0.3% to HK $76.20.
Soundwill Holdings soared 40% to HK $7.70 after the company resumed trading for the first time since February 14.
The company also announced its plans to go private in a transaction valued at HK $8.50 per share, and no competing offer is likely to emerge in the near future.
Chifeng Jilong Gold Mining priced its public offering towards the bottom end of its filing range between HK$13.72 and HK$15.83 per share, and the company raised HK$2.68 billion, or $345 million.
The company said it plans to use half of the proceeds for upgrading its equipment and technology and the remaining to acquire high-quality mining assets.
- Li Chen
- 10 Mar, 2025
- Hong Kong
Market sentiment weakened in Monday's trading following the release of inflation reports.
The Hang Seng index declined 1.8%, and the mainland-focused CSI 300 index decreased 0.4% after two key inflation reports confirmed an ongoing economic slowdown and weak consumer spending.
The consumer price inflation declined 0.7% from a year ago in February, according to a report released by the National Bureau of Statistics.
Retail inflation reversed the 0.5% increase in the previous month and fell for the first time since January 2024.
Demand waned after the ending of the Spring festival amid a fall in prices for food and transportation.
Core inflation, which excludes volatile food and energy prices, decreased 0.1%.
In addition, China's producer price deflation extended to the 29th consecutive month in February, and the measure of prices charged by manufacturers declined 2.2% from a year ago.
Household spending has remained subdued because of several factors negatively impacting consumer sentiment—rising trade tensions with the U.S., the ending of rebates for household supplies and electric vehicles, front-loading by U.S. importers ahead of tariffs, and protracted recovery in the residential real estate market.
China Indexes and Markets
The Hang Seng index dropped 1.8% to 23,801.87, and the mainland-focused CSI 300 index fell 0.4% to 3,928.77.
Technology and property stocks led the decliners for the second week in a row.
Alibaba Group dropped 3.8% to HK $134.70, Meituan fell 4.8% to HK $174.80, and JD.com plunged 4.5% to HK $162.40.
China Vanke dropped 2.4% to HK $6.19, Longfor Group Holdings Ltd declined 1% to HK $10.82, and Sun Hung Kai Properties edged up 0.3% to HK $76.20.
Soundwill Holdings soared 40% to HK $7.70 after the company resumed trading for the first time since February 14.
The company also announced its plans to go private in a transaction valued at HK $8.50 per share, and no competing offer is likely to emerge in the near future.
Chifeng Jilong Gold Mining priced its public offering towards the bottom end of its filing range between HK$13.72 and HK$15.83 per share, and the company raised HK$2.68 billion, or $345 million.
The company said it plans to use half of the proceeds for upgrading its equipment and technology and the remaining to acquire high-quality mining assets.
- Barry Adams
- 07 Mar, 2025
- New York City
The roller-coaster ride this week continued on Wall Street, and investors worried about the state of the U.S. economy and the damage caused by the Trump administration's tariff policies.
The S&P 500 decreased 0.6%, and the Nasdaq Composite dropped 0.7% amid worries about the resurgent inflation and confusion about Trump trade policies.
Stock market indexes walked back this week amid constant Trump tariff flip-flops, confusion about implementation plans, and chaotic economic policy of the Trump administration.
The constant confusion and chaos induced by Donald Trump have forced down the S&P 500 index by 4.2% and the Nasdaq Composite by 4.8%.
Investors are unnerved by a steady stream of updates, uncertainty about the federal government policies, and lack of clarity about the administration's future plans.
Moreover, nonfarm payrolls in February rose 151,000, higher than the downwardly revised 125,000 in the previous month, the U.S. Bureau of Labor Statistics reported Friday.
Both the unemployment rate, at 4.1%, and the number of unemployed people, at 7.1 million, changed little in February.
The unemployment rate has remained in a narrow range of 4.0% to 4.2% since May 2024.
In February, average hourly wages inched up annually 4% to $35.93.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.3% to 5,753.60, the Nasdaq Composite edged up 0.5% to 18,152.19, and the Russell 2000 index was down 0.3% to 2,061.14.
The yield on 2-year Treasury notes edged lower to 3.92%, 10-year Treasury notes decreased to 4.22%, and 30-year Treasury bonds declined to 4.54%.
WTI crude oil decreased $0.79 to $67.17 a barrel, and natural gas prices edged lower by $0.17 to $4.13 a thermal unit.
Gold increased by $2.84 to $2,913.40 an ounce, and silver edged down by $0.38 to $32.25.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.32 to 103.74 and traded at a two-year high.
U.S. Stock Movers
Walgreens Boots Alliance jumped 7% to $11.35 after the drugstore chain agreed to go private in a $10 billion deal, or $11.45 per share, with Sycamore Partners after four months of negotiations.
Nasdaq Inc. dropped 2.7% to $74.09, and the stock exchange operator announced its plans to offer 24-hour trading during weekdays, following similar announcements by the NYSE and the CBOE.
Gap Inc. jumped 12% to $21.88 after the specialty apparel retailer announced its fourth quarter results.
Net sales dropped to $4.15 billion from $4.30 billion, net income jumped to $206 million from $185 million, and earnings per diluted share rose to 54 cents from 49 cents a year ago.
Comparable sales in the quarter advanced 3%.
The company guided for the first quarter of 2025 net sales flat to up slightly, compared to $3.4 billion in 2024.
For the full year, Gap estimated sales growth between 1% and 2%, compared to $15.09 billion in 2024.
Broadcom Inc. jumped 3.5% to $185.70 after the advanced semiconductor company reported strong quarterly results, and the company offered a solid outlook for the current quarter.
Net revenue increased to $14.92 billion from $11.96 billion, net income surged to $5.50 billion from $1.32 billion, and earnings per diluted share rose to $1.14 from 28 cents a year ago.
The company approved a quarterly cash dividend of 59 cents per share, payable on March 31 to stockholders on record as of March 20.
Broadcom guided for the second quarter revenue of approximately $14.9 billion, up 19% from $12.49 billion a year ago, and adjusted EBITDA of 66% of projected revenue, compared to 59% of revenue in the same quarter in 2024.