News

Global credit default spreads narrow as markets rally

The cost of insuring against sovereign and corporate defaults on European and Asian debt fell on Thursday as investors breathed a sigh of relief at a pause on some of the heaviest U.S. tariffs. U.S. President Donald Trump on Wednesday stunned markets with an abrupt decision to introduce a 90-day pause on the import tariffs on dozens of countries that were due to come into effect, with the exception of China.

Full S&P 500 recovery this year still far-fetched despite rally

(Bloomberg) -- Even after Wednesday’s furious rebound in US stocks, the chances that the S&P 500 Index will end the year with a gain remain slim, if history is any guide.In the 16 times the US stock benchmark has dropped 15% or more at any point in a year, like it had before the rally, the S&P 500 has only recovered to end the 12-month period positive on three occasions, according to data compiled by Ryan Detrick at Carson Group LLC. Those instances — 2020, 2009, 1982 — occurred in times when th

Selloff resumes on Wall Street as markets weigh tariff risks

(Reuters) -Wall Street's main indexes fell on Thursday on concerns over the impact of high tariffs on global economy, with stocks pulling back from the sharp gains a day ago when U.S. President Donald Trump moved to temporarily lower the levies on some countries. The U-turn came less than 24 hours after the new tariffs took effect on most trading partners, lifting the S&P 500 to its biggest single-day percentage gain since 2008 on Wednesday. The Nasdaq posted its biggest one-day jump since 2001.