Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
U.S. stock index futures dipped Sunday night as fears of a deepening global trade war resurfaced. President Donald Trump announced sweeping 30% tariffs on imports from Mexico and the European Union, expanding his aggressive tariff agenda following similar levies on Canada, Japan, South Korea, and Brazil.
By 7:17 p.m. ET, S&P 500 Futures dropped 0.4% to 6,274.0, Nasdaq 100 Futures slipped to 22,859.0, and Dow Jones Futures fell 0.4% to 44,417.0. The pullback reflects growing concerns over inflationary pressure and market volatility ahead of key U.S. economic data.
The tariffs, effective August 1, give targeted nations a brief window to negotiate exemptions. Trump, who delayed the initial deadline from July 9, confirmed ongoing talks with the EU and South Korea aimed at averting the new levies.
These trade measures have pushed U.S. customs duty collections to a record $113.3 billion in the first nine months of fiscal 2025, with Treasury Secretary Scott Bessent projecting $300 billion by year-end. However, economists warn the tariffs are ultimately paid by U.S. importers, who may pass costs to consumers, stoking inflation.
Wall Street has already reacted. On Friday, the S&P 500 fell 0.3% to 6,259.75, the NASDAQ dropped 0.2%, and the Dow shed 0.6% to 44,371.51.
Markets now await June’s CPI inflation report, due Tuesday, to assess the direct impact of tariffs on consumer prices. Both headline and core inflation are expected to rise. The Federal Reserve has flagged trade tensions as a source of inflation risk and uncertainty, justifying its cautious stance on rate cuts—despite Trump’s repeated calls for lower rates and criticism of Fed Chair Jerome Powell.
