Stocks turn lower as tariff worries cast a shadow
|When even good tech earnings can't support the market, it might be time to worry, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stocks cede ground as tariff worries weigh on sentiment
The morning’s positive atmosphere has given way to much more cautious trading. Last night’s tech results seemed to deliver the tonic investors had been looking for, but caught between more tech earnings and some harsh tariff rhetoric, stocks have given back their gains. Even with tonight’s earnings out of the way, there is still the hurdle of payrolls tomorrow to navigate.
Fed decision boosts dollar
The US dollar continues to surge, especially now that a September rate cut seems less likely. Prices are still rising, and even though tariffs are settling at lower levels than feared, they are now an established part of the landscape. A further bump in inflation seems inevitable, which further muddies the waters around a 2025 rate cut, though at least a hike remains off the cards for now
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