The S&P 500 Index dropped more than 3% on Thursday as investor concerns grew over escalating trade tensions and potential tariff hikes. The decline erased gains from the previous day’s rally. Other major stock indexes and the US dollar also weakened on April 10, according to Reuters.
On Friday, the Bloomberg Dollar Spot Index, which tracks the greenback's performance against major global currencies, dropped to a six-month low. The decline followed massive outflows from US assets amid escalating trade tensions between Washington and Beijing.
On Friday, gold broke through the significant threshold of $3,200 per ounce for the first time, reaching a new all-time high. This surge was boosted by the escalating trade confrontation which led investors to seek safe-haven assets.
Rising trade tensions between the world's largest economies are putting pressure on the investments necessary to meet future copper demand, according to representatives of the copper industry cited by Bloomberg.
The US has significantly lowered its forecast for global oil demand growth in 2025, now predicting an increase of 900,000 barrels per day (bpd). This is 400,000 bpd lower than the previous outlook, according to Bloomberg.
A decrease of the indicator value may contribute to the rise in quotes of Silver, Gold and the fall in quotes of USD.
UBS analysts believe that US import tariffs pose a serious threat to Japan's economy, potentially reducing its growth by 0.8 percentage points in 2025. The new American president has been aggressively raising import duties since taking office.
Research institutes in Germany have presented a grim outlook for the national economy after analyzing the current conditions. Their estimates indicate that the country's GDP is expected to grow by a mere 0.1% this year, following two years of decline.
The German stock index DAX 40 rose rapidly on Thursday, gaining 8.37%. The unexpected US President Donald Trump's announcement of a 90-day suspension of new duties on imports from dozens of countries, including the European Union, contributed to this.
Markets forecast the Reserve bank of Australia to cut rates at least five times by September, while fully pricing a 0.5% reduction at the meeting in May. Earlier in April, the bank held rates steady at 4.1%.
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The global economy can be greatly impacted by major events, causing stock markets and exchange rates to plummet. The repercussions of one nation's crisis may extend to other countries, creating a butterfly effect with far-reaching consequences. While these events may be frightening for some, traders and investors use them as a chance to generate profits amidst a crisis.
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