Oil prices plunged to settle at their lowest in three years as China ramped up tariffs on U.S. goods, escalating a trade war that has led investors to price in a higher probability of recession. China, the world’s top oil importer, announced it will impose additional tariffs of 34% on all U.S. goods.
The Oil-Dollar pair plummeted 6.9% in the last session. The Ultimate Oscillator’s is giving a negative signal.
Support: 53.115 | Resistance: 72.016
Global stock markets extended their recent rout, with S&P 500 companies wiping out $5 trillion in stock market value since Trump unveiled sweeping tariffs. The Nasdaq confirmed it was in a bear market, ending more than 20% below its record high close.
Tariff-stunned markets face another week of potential tariff turmoil, with fallout from President Donald Trump’s sweeping import levies keeping investors on edge after the worst week for U.S. stocks since the onset of the coronavirus crisis five years ago.
U.S. stock indexes finished higher after a choppy trading session on Wednesday, falling early and then rebounding as investors made last-minute bets to position themselves ahead of U.S. President Donald Trump’s sweeping tariff announcements that came later in the day.
The U.S. dollar fell against major currencies such as the euro, and sterling on Wednesday, while the safe-haven yen tumbled, as traders awaited U.S. President Donald Trump’s plans for tariffs, which could reshape the global trading system.
The Pound-Dollar pair traded sideways in the last session. The MACD is giving a positive signal.
Support: 1.2882 | Resistance: 1.2957
As the weekend deadline for TikTok to find a buyer approaches, bidders for the short-video social media site are piling up. Amazon is the latest to throw their hats into the ring for TikTok. The site faces an April 5 deadline to reach a deal to find a non-Chinese buyer under threat of being banned from the United States.
