20/03/2025 Evening Reports
Markets Fall Back as Hopes of Fed Rate Cut Fading Amid Tariff Fears
- US equity futures fell, with S&P 500 and Nasdaq 100 contracts at least 0.4% down, as the prospects for a cut in interest rates by the Federal Reserve faded in the face of inflationary pressure from President Donald Trump’s tariffs. European shares also fell 0.7%.
- Wall Street relief rally after the Fed meeting was short-lived, as Chair Jerome Powell downplayed the inflationary impact of tariffs and hinted at only mild rate reductions. Investors remain wary of Trump’s subsequent tariff wave on April 2 that could further complicate the Fed’s policy landscape.
- Tesla dropped in premarket trading after it recalled Cybertrucks for safety reasons, and US-listed shares of PDD Holdings, China’s, fell after a third straight quarter of missing sales estimates. Meanwhile, the Bank of England left rates steady but signaled caution for future cuts.
- US Treasury yields declined during times of economic uncertainty, gold posted new records, and investors awaited impending jobless claims and business sentiment reports for additional clues regarding economic health.
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