Reuters US Economy

Australia household spending up 0.2% in February, growth stays modest

4 Apr 2025

SYDNEY (Reuters) – Australian household spending rose for a fifth straight month in February, data showed on Friday, but the gains were slim and overall growth remained modest as consumers struggled with cost-of-living pressures. The Australian Bureau of Statistics’ monthly household spending indicator (MHSI) showed a seasonally adjusted rise of 0.2% in February from January, …

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Global stocks, and yields, plunge as Trump tariffs fan trade war fears

3 Apr 2025

(Reuters) -World markets were slammed on Thursday by U.S. President Donald Trump’s unveiling of reciprocal tariffs to match duties put on U.S. goods by other countries. Stock markets tumbled and investors dashed to the relative safety of bonds, gold and the yen. The S&P 500 nosedived almost 5%, while the tech-heavy Nasdaq ended down about …

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S&P 500 loses $2.4 trillion in market value, biggest one-day loss since 2020

3 Apr 2025

(Reuters) – S&P 500 companies lost a combined $2.4 trillion in stock market value in Thursday’s selloff on Wall Street, their biggest one-day loss in value since the emerging coronavirus pandemic sent global markets into a tailspin on March 16, 2020. The S&P 500 ended down almost 5% after U.S. President Donald Trump’s sweeping tariffs …

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TSX posts biggest decline in five years on US tariff shock

3 Apr 2025

By Fergal Smith (Reuters) -Canada’s main index tumbled to a three-week low on Thursday, including steep declines for energy and technology shares, as the escalation of a U.S.-led trade war sparked fears of a recession globally. The Toronto Stock Exchange’s S&P/TSX composite index ended down 971.41 points, or 3.8%, at 24,335.77, its lowest closing level …

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Hassett says no need to worry about China cutting off pharmaceutical supplies

3 Apr 2025

WASHINGTON (Reuters) -U.S. National Economic Council Director Kevin Hassett on Thursday dismissed the possibility of China retaliating to tariffs imposed this week by cutting off U.S. pharmaceutical supplies. During an interview on Fox News’ “The Story with Martha MacCallum,” Hassett was asked if he had any concern that China would cut off supplies to pharmaceuticals …

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Trump’s tariffs roil company plans, threatening exports and investment

3 Apr 2025

By Christoph Steitz, Kalea Hall and Jessica DiNapoli FRANKFURT/DETROIT/NEW YORK (Reuters) – Businesses around the globe on Thursday faced up to a future of higher prices, trade turmoil and reduced access to the world’s largest market after U.S. President Donald Trump confirmed their worst fears by instituting broad tariffs worldwide. Trump ramped up his trade …

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Colombia needs $11.1 billion further adjustment in 2025 budget to meet fiscal rule

3 Apr 2025

BOGOTA (Reuters) – Colombia needs an additional adjustment of some 46 trillion pesos ($11.1 billion) in the 2025 budget to meet the fiscal rule said Astrid Martinez, president of the autonomous committee on fiscal rule (CARF) on Thursday. The new projection is higher than the previous estimate of 40 trillion pesos, as CARF forecasts the …

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Fed’s Jefferson: still substantial uncertainty on trade policy, need time to assess

3 Apr 2025

(Reuters) – Federal Reserve Vice Chair Philip Jefferson on Thursday declined to offer any specifics about how the Trump administration’s sweeping tariffs announced on Wednesday affect his outlook for the economy and monetary policy, though he appeared to signal some worry about its potential dampening effect on economic growth. “There remains a substantial amount of …

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Canada’s services PMI tumbles to near 5-year low on tariff concerns

3 Apr 2025

By Fergal Smith TORONTO (Reuters) – The downturn in Canada’s services economy deepened in March as U.S. tariffs and the start of a general election campaign led to an increase in economic uncertainty that cut client spending, S&P Global’s Canada services PMI data showed on Thursday. The headline Business Activity Index fell to 41.2 from …

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