Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
The U.S. dollar continued to face pressure on Friday, hovering near six-month lows against the safe-haven yen, as markets reacted to President Donald Trump's aggressive new tariffs and braced for key U.S. economic data.
After plunging 1.9% Thursday—its sharpest drop since November 2022—the U.S. dollar index steadied, but investor sentiment remained fragile. Trump’s announcement of a 10% baseline tariff on all imports, including 20% on EU goods, 24% on Japanese products, and 54% total on Chinese imports, rattled global markets. Both China and the EU vowed retaliation, raising fears of a full-scale trade war that could tip the global economy into recession and fuel inflation.
The dollar weakened 0.15% to 145.89 yen after dropping 2.2% the previous session, touching a low not seen since early October. The euro edged up 0.08% to $1.1060, while sterling held steady at $1.3103. Offshore, the yuan eased 0.13% to 7.2686 despite China’s market holiday.
Investors now await the U.S. nonfarm payrolls report, expected to show a slowdown in job growth to 135,000 in March. A weaker report could solidify expectations for Federal Reserve rate cuts. Traders are pricing in four quarter-point cuts this year, starting as early as June.
Yields on two-year U.S. Treasuries dropped further, slipping 6 basis points to 3.6611% after an 18-point plunge on Thursday. Fed Chair Jerome Powell is also set to speak later Friday, which could provide more insight into the central bank’s monetary policy stance.
Risk-sensitive currencies like the Australian and New Zealand dollars remained weak, while bitcoin climbed 0.9% to over $83,000, showing resilience amid broader market volatility.
