Thursday Evening Shake - Markets Update - 10 Apr 2025 - Wall Street Retreats as Tariff Uncertainty Resurfaces; Gold Hits Record

Markets Update: Wall Street declined on Thursday as fresh worries about U.S. trade policy erased much of the prior day's optimism, with the S&P 500 dropping over 3% and the dollar falling significantly.

Global Markets Roundup: 10 Apr 2025

Although a brief global rally was triggered by a temporary pause on tariffs, investors stayed anxious as President Donald Trump indicated he would proceed with imposing steep tariffs on Chinese imports.

The Trump administration confirmed that a 10% blanket tariff on nearly all U.S. imports remains in place, and that duties on Chinese goods have risen to 145% following the latest increase. This announcement came just a day after the White House stated it would pause tariffs on 56 countries for 90 days, leading to a dramatic 9.5% surge in the S&P 500 on Wednesday.

Stocks Sink Again Despite Easing CPI

Thursday’s declines came despite a surprise dip in March consumer prices, offering some relief on the inflation front. But analysts warned that any disinflation may be overshadowed by the growing risks of a trade-induced slowdown.

Dow Jones Industrial Average: -985.82 points (-2.43%) to 39,623.35
S&P 500: -174.64 points (-3.20%) to 5,282.26
Nasdaq Composite: -678.26 points (-3.96%) to 16,446.71

Tariff Jitters Cap Global Rally

Earlier in the day, global markets had extended gains from Wednesday’s relief rally:

Europe’s STOXX 600: +3.7%
China’s CSI 300: +1.3%
Hong Kong’s Hang Seng: +2.1%
MSCI World Index: -0.50% to 781.38, snapping back late in the session

European Commission President Ursula von der Leyen confirmed the EU would delay retaliatory tariffs, giving time for bloc-wide trade negotiations with Washington.

Treasuries Hold Steady, Dollar Slips

U.S. Treasury yields held steady following a strong 10-year note auction, calming bond markets after a violent selloff earlier in the week. The benchmark 10-year yield was flat at 4.396%.

The U.S. dollar weakened significantly against major peers:

Dollar Index DXY: -0.38% to 103.80
Euro EURUSD: +2.23% to $1.1031
Yen USDJPY: -2.07% to 144.66

Gold Surges to New Record, Oil Slides

Amid ongoing uncertainty, gold futures surged 3.2% to $3,155.20/oz, notching a new record and its biggest daily gain since April 2020.

Oil prices fell sharply as traders reassessed global demand:

WTI Crude (CL1!): -$2.28 to $60.07/barrel
Brent Crude (BRN1!): -$2.15 to $63.33/barrel

Commodities Mixed

Sugar (SBK25): +1.17%
Cotton: -21 to -39 points across contracts
Cocoa (CCK25): -4.25%, hitting a fresh multi-week low
Soybeans (ZS1!): +13¾ cents to $10.26½/bushel
Corn (ZC1!): +7½ cents to $4.81½/bushel (highest since Feb 28)
Wheat (ZW1!): -3 cents to $5.39¼/bushel

Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.

General news - Information source from multiple newswires.

The article and the data is for general information use only, not advice!

The Trade Academy Team