U.S. Stocks Tumble On Recession Fears, Look Set To End Sharply Lower

RTTNews | hace 10h 32min

(RTTNews) - U.S. stocks are down sharply in negative territory Monday afternoon, with those from technology sector suffering more pronounced losses, amid rising concerns about the outlook for economic growth and corporate earnings.

In a Fox News interview on Sunday, U.S. President Donald Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.

"There is a period of transition, because what we're doing is very big. We're bringing wealth back to America," Trump told the "Sunday Morning Futures" program.

With a slew of crucial economic data due later in the week, the mood in the market is extremely cautious.

Reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations, are due this week.

The major averages are all down deeply in negative territory. The Dow dropped to 41,871.80, losing 929.92 points or 2.17 percent. The S&P 500 declined 170.53 points or 2.96 percent, to 5,599.68, and the Nasdaq tumbled to 17,409.95, losing 786.27 or 4.32 percent.

Tesla is tanking more than 14 percent. Carnival is down 8 percent, Morgan Stanley is declining 7.6 percent, Wells Fargo is down 7.2 percent, and Goldman Sachs is down 5.7 percent.

American Airlines, Delta Airlines, Citigroup, Meta Platforms, Apple Inc., US Bancorp, Alphabet, Starbucks, Nvidia, JP Morgan, Bank of America, Boeing and American Express are down 4 to 6 percent.

Among the gainers, ResMed is up 3.6 percent, Biogen is rising 3 percent, Modena is advancing 2.75 percent, PepsiCo is up 2.5 percent, and Colgate-Palmolive is moving up 1.75 percent. Merck, Verizon, Exxon Mobil and Amgen are among the other notable gainers.

Asian stocks turned in a mixed performance on Monday amid lingering tariff worries, the threat of a U.S. recession and signs of deepening deflationary pressures in China.

European stocks closed on a weak note on Monday as rising economic uncertainty and tariff concerns rendered the mood bearish. Recent weak U.S. and Chinese economic data hurt as well.

Hong Kong Stock Market May Take Further Damage On Tuesday

The Hong Kong stock market has moved lower in consecutive trading days, stumbling almost 600 points or 2.6 percent along the way. The Hang Seng Index now rests just above the 23,780-point plateau and it figures to open under pressure again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The Hang Seng finished sharply lower on Monday following losses among the financial shares, property stocks and technology companies. For the day, the index plunged 447/81 points or 1.85 percent to finish at 23,783.49 after trading between 23,632.42 and 24,292.80. Among the actives, Alibaba Group stumbled 3.93 percent, while Alibaba Health Info surged 3.25 percent, ANTA Sports slumped 2.09 percent, China Life Insurance and CITIC both fell 0.63 percent, China Mengniu Dairy slid 0.42 percent, China Resources Land retreated 2.63 percent, CNOOC advanced 0.91 percent, CSPC Pharmaceutical sank 1.24 percent, Galaxy Entertainment shed 1.23 percent, Hang Lung Properties added 0.45 percent, Henderson Land eased 0.22 percent, Hong Kong & China Gas rose 0.32 percent, Industrial and Commercial Bank of China lost 0.89 percent, JD.com plunged 4.59 percent, Lenovo dropped 1.58 percent, Li Auto dipped 0.36 percent, Li Ning tanked 4.50 percent, Meituan plummeted 4.69 percent, New World Development soared 2.83 percent, Nongfu Spring declined 2.41 percent, Techtronic Industries skidded 1.65 percent, Xiaomi Corporation tumbled 2.76 percent and WuXi Biologics and Haier Smart Home were unchanged.

RTTNews | hace 4h 12min

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,900 level, with weakness across most sectors led by mining and technology stocks.

RTTNews | hace 4h 24min

No Help Yet For China Stock Market

The China stock market has moved lower in two straight sessions, retreating almost 15 points or 0.5 percent in that span. The SCI now sits just above the 3,365-point plateau although it's looking at another soft start again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

RTTNews | hace 4h 27min

More Pain Predicted For Taiwan Stock Market

The Taiwan stock market has finished lower in three straight sessions, shedding almost 420 points or 1.8 percent in that span. The Taiwan Stock Exchange now sits just above the 22,450-point plateau and it figures to open under water again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The TSE finished modestly lower again on Monday following mixed performances from the financial shares and technology stocks. For the day, the index slumped 116.92 points or 0.52 percent to finish at 22,459.15 after trading between 22,407.57 and 22,641.25. Among the actives, Cathay Financial and CTBC Financial both perked 0.16 percent, while Mega Financial collected 0.63 percent, Fubon Financial fell 0.22 percent, E Sun Financial improved 0.70 percent, Taiwan Semiconductor Manufacturing Company sank 0.70 percent, United Microelectronics Corporation rallied 2.04 percent, Largan Precision retreated 1.67 percent, Catcher Technology gained 0.73 percent, MediaTek plunged 4.78 percent, Novatek Microelectronics shed 0.37 percent, Formosa Plastics advanced 1.03 percent, Nan Ya Plastics climbed 1.05 percent, Asia Cement was up 0.11 percent and Hon Hai Precision was unchanged.

RTTNews | hace 4h 57min

Japan Household Spending Adds 0.8% On Year In January

The average of household spending in Japan was up 0.8 percent on year in January, the Ministry of Internal Affairs and Communications said on Tuesday - coming in at 305,521 yen.

RTTNews | hace 5h 12min

Japan GDP Adds 0.6% On Quarter In Q4

Japan's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the fourth quarter of 2024, the Cabinet Office said in Tuesday's second preliminary estimate.

RTTNews | hace 5h 17min

Singapore Stock Market Poised To Open Under Water On Tuesday

The Singapore stock market has tracked lower in back-to-back sessions, sinking almost 20 points or 0.5 percent along the way. The Straits Time Index now sits just beneath the 3,900-point plateau and the losses may accelerate on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The STI finished modestly lower on Monday following losses among the financial shares, property stocks and industrial issues. For the day, the index fell 15.41 points or 0.39 percent to finish at the daily low of 3,899.07 after peaking at 3,922.66. Among the actives, CapitaLand Investment sank 0.77 percent, while City Developments declined 1.19 percent, Comfort DelGro shed 0.68 percent, DBS Group eased 0.28 percent, Frasers Logistics & Commercial Trust spiked 1.79 percent, Genting Singapore rallied 1.41 percent, Hongkong Land stumbled 1.79 percent, Keppel DC REIT added 0.49 percent, Keppel Ltd slid 0.44 percent, Mapletree Industrial Trust advanced 1.00 percent, Mapletree Logistics Trust skidded 0.80 percent, Oversea-Chinese Banking Corporation lost 0.64 percent, Seatrium Limited jumped 1.43 percent, SembCorp Industries retreated 1.27 percent, Singapore Technologies Engineering slumped 1.14 percent, SingTel tumbled 1.75 percent, UOL Group climbed 1.38 percent, Venture Corporation rose 0.24 percent, Wilmar International fell 0.61 percent, Yangzijiang Financial dropped 0.78 percent, Yangzijiang Shipbuilding dipped 0.42 percent and Thai Beverage, Mapletree Pan Asia Commercial Trust, DFI Retail, Frasers Centrepoint Trust, CapitaLand Integrated Commercial Trust, Emperador and SATS were unchanged.

RTTNews | hace 5h 27min

Losing Streak May Continue For Malaysia Stock Market

The Malaysia stock market has tracked lower in three straight sessions, slumping almost 30 points or 2 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,535-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

RTTNews | hace 5h 57min

EURUSD	1.08468	GBPUSD	1.28787	AUDUSD	0.6263
USDJPY	146.867	USDCAD	1.44369	USDCHF	0.87808

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U.S. Stocks Tumble On Recession Fears, Look Set To End Sharply Lower