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MARKETS WRESTLE METHOD & MADNESS OF TRUMPONOMICS
The New Indian Express Chennai
|June 29, 2025
Optimism held sway till headlines spooked the bulls.
Global indices flirted with or shot past 52-week highs as the news flow propped bullish sentiments. The US benchmark S&P500 touched a new high of 6,187, tech tracker Nasdaq shot past 20,311, Japanese Nikkei 225 hovered at 40,267, Korean Kospi touched 3,093, and India's Nifty50 surged past 25,650 towards its all-time high, while in London the FTSE100 nudged 8,798.
Donald J Trump was talking up trade deals. A deal with China signaled business as usual for markets even though little is known beyond access to rare earth minerals and magnets discussed at the London détente. A deal with India—"a big one which would open up India," in Trump's words—was on the anvil, Vietnam was moving ahead and the European Union was edging closer to a deal, prompting the US to scrap the "revenge tax".
The whiplash of headlines followed soon enough. Just as punters settled for siesta, DJT declared, "We are hereby terminating ALL discussions on trade with Canada, effective immediately." The reason: Canada's move to implement a digital services tax of 3 percent. Predictably, the Canadian S&P TSX slid, as did S&P500 and Nasdaq before recovering at close. Tremors and shocks are a constant cause of volatility since Trump took office. Traders who coined the term TACO (Trump always chickens out) believe Trump's love for a buoyant stock market will save the day.
Bu hikaye The New Indian Express Chennai dergisinin June 29, 2025 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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