6 August
US stocks falter amid threat of slowing global economic growth
Global stock markets are under pressure as concerns grow over the impact of tariffs on economic growth. On Wednesday, the S&P 500 fell 0.4%, while the Nasdaq dropped 0.6%. European and Asian markets also showed mixed performance, according to Reuters analysts.
Trade tensions stemming from US President Donald Trump’s tariffs are weighing on businesses. Logistics giant UPS announced 20,000 job cuts to reduce costs, while General Motors withdrew its 2025 forecast and postponed an investor meeting, joining other firms in scaling back expectations. Many companies are now hesitant to make long-term plans due to economic uncertainty, the agency noted.
Growing investor fears of a US economic slowdown have fueled expectations of a Federal Reserve rate cut, pushing US Treasury yields near multi-month lows, Reuters reports.
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