The euro surged to a five-month high as Ukraine agreed to a month-long ceasefire. This decision boosted investor confidence in European markets. Meanwhile, U.S. equity futures rose, signaling optimism among traders. However, Russia has yet to respond, adding uncertainty to the situation.
Stock markets remained volatile due to shifting U.S. tariff policies. President Trump initially proposed doubling tariffs on steel and aluminum from Canada. Later, he withdrew the decision after Ontario suspended its surcharge on exported electricity. This back-and-forth has left investors uncertain about future trade policies.
The U.S. dollar weakened, reflecting concerns over economic slowdown. Investors fear that rising tariffs and policy uncertainty could hurt economic growth. Additionally, Treasury yields dropped, indicating a move toward safer assets. Meanwhile, inflation data for February is due soon, but analysts expect limited impact from tariffs at this stage.
Airline stocks suffered significant losses after Delta Air Lines cut its profit forecast. Rivals like United and American Airlines also warned of declining bookings. Similarly, retail stocks struggled, with Dick’s Sporting Goods falling 5.7% and Kohl’s Corp plunging 24% due to weak sales.
Germany’s ongoing coalition discussions added another layer of market uncertainty. The country’s conservative party and the Social Democratic Party support increased military and infrastructure spending. However, the Green Party opposes these measures, potentially blocking the agreement. This political divide could impact Germany’s economic outlook and investor confidence.
Despite market uncertainty, the British pound rose by 0.4%, reaching $1.2934. This movement reflects shifting investor sentiment as traders adjust to ongoing global economic challenges.
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Euro surges to a five-month high as Ukraine accepts a ceasefire proposal. Market volatility continues amid tariff uncertainty.
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