Squawk Box Europe Express

President Trump is reportedly mulling slashing tariffs on Chinese imports, but Treasury Secretary Scott Bessent said that the country won’t act unilaterally. In Europe, the Kering crisis continues, as Gucci first quarter sales slide by 25%. Meanwhile, Adidas bounces back, posting its strongest start to a year following the company’s turnaround plans. BNP Paribas posted a first quarter beat and confirms its guidance, with C...

President Trump eases back on Jerome Powell, insisting he has no intentions to fire the Fed Chair – spiking U.S. futures and calming concerns over the Fed’s independence. U.S. markets rebound after Trump backs up comments made by U.S. Treasury Secretary Scott Bessent, saying that the tariff standoff with China is “unsustainable”. Elon Musk pledges to step back from his government work as Tesla posts its biggest earnin...

The Dow falls as tech stocks fall after President Trump slams U.S. Federal Reserve Chairman Jerome Powell for failing to cut interest rates. The dollar falls to a three-year low on tariff concerns. Chinese battery maker CATL unveils new cells, claiming faster charging times and longer range than rival BYD. Also in autos news, Tesla shares plunge 6 per cent ahead of earnings due out later today with one analyst calling the ...

U.S. markets tumble after Federal Reserve Chairman Jerome Powell says the central Bank is waiting on ‘greater clarity’ of the impact of President Trump’s tariffs. Powell warns that the U.S. economy could face rising inflation and a decreased jobs market as a result of the levies. Nvidia shares slump by 6.87 per cent after revealing a $5bn hit from U.S. export controls. Other semi-conductor companies follow suit into the re...

China’s economy expands by 5.4 per cent in the first quarter but President Trump’s levies on the country fuel concerns about further stimulus measures from Beijing. ASML net bookings are down with the Dutch chip maker warning the Trump tariffs have heightened demand uncertainty. The U.S. president has called for a tariff probe into critical minerals, pushing mining stocks down and potentially opening a new front in his tar...

The U.S. announces it is launching investigations into the chip and pharmaceutical imports. President Trump says that goods with strategic and security importance must be produced Stateside. The move could provoke further tariffs. Global auto makers see shares rise as President Trump hints at potential tariff relief for the sector. In luxury goods news, LVMH misses Q1 sales targets, falling 3 per cent on disappointing perf...

President Trump outlines tariff exemptions including smartphones, chips and other tech components but U.S. Commerce Secretary Howard Lutnick says the move is only temporary. The tech sector rallies in Asia with the Hang Seng leading gains. Chinese exports surge more than 12 per cent in March. President Xi Jinping slams the trade was with the U.S., saying that protectionism has ‘no way out’. The founder of Bridgewater Assoc...

The market sell-off continues. Following a brief rally, yields are up, the dollar weakens and the Dow loses a further 1,000 points as the trade war fuels concerns about a potential recession in the U.S. Inflation data Stateside comes in better than expected for March. It’s the first consecutive monthly decline since 2020. European Commission President Ursula Von Der Leyen warns of digital advertising levies in the eve...

Wall Street enjoys a historic rally after President Trump announces a 90-day pause on reciprocal tariffs, not including China. Asian equities are also in the green with the Nikkei and Taiwan’s Taiex leading gains. European futures are also up as are Chinese equities, despite Trump increasing levies on the country to 125 per cent. In Germany, the CDU/CSU and the SPD unveil a coalition deal with Chancellor-in-waiting Friedri...

President Trump’s tariffs kick in for the so-called ‘worst offenders’ with the minimum rate on certain Chinese goods hitting 104 per cent. Trump says the U.S. remains resolute. Asian equities are firmly in the red. European markets and Wall Street are both braced for more heavy sell-offs. U.S. Treasury yields also spike. The tariffs feud between Elon Musk and President Trump’s top trade advisor Peter Navarro intensifi...

Asian equities rebound after hitting an 18-month low while Wall Street futures are in the green following a volatile session on Monday. The Nikkei is up following the news that Tokyo is granted priority in U.S. trade talks with a negotiating team due to arrive in Washington D.C. later today. Beijing vows to ‘fight to the end’ against American ‘blackmail’ after President Trump threatens to double tariffs on China this week....

Asian equities fall with the Nikkei hitting an 18-month low as China retaliates against President Trump’s sweeping tariffs policies. U.S. equity futures also indicate a heavy sell-off after $5tn in market cap was wiped off the S&P 500 in just two days. Europe is also set lower today as European Union trade ministers gather in Luxembourg to discuss an appropriate tariff response. And in media news, the Trump administrat...

Wall Street suffers its worst session since 2020 with $2.5tn vanishing from market value following the announcement of President Trump’s sweeping global tariffs. Along with a heightened risk of a U.S. recession, top Wall Street names have voiced concerns over worsening global economic consequences should the tariffs be implemented without any exemptions. President Trump says he remains open to negotiations. We are live on ...

President Trump hails his tariff blitz on Liberation Day. U.S. markets fall in extended trade as investors rush to safe havens, fearing the swathe of levies imposed by Washington could spark a global trade war. In Asia, the Nikkei slumps to an 8-month low and the tariff effects are felt across South-East Asian markets. China slams the move as ‘unilateral bullying’ and Canada pledges retaliation. The EU’s response is measur...

President Trump’s much-awaited Liberation Day arrives with nations braced for a wave of sweeping reciprocal trade tariffs to be announced with immediate effect at a Rose Garden event later today. The UK is still hopeful of achieving an 11th-hour tariff deal while Brussels pledges a ‘strong plan’ in retaliation. Tesla sales continue to fall following strong competition from rival Chinese manufacturers and political activism...

Wall Street suffers its worst quarter in almost 3 years as concerns over President Trump’s tariffs could fuel a U.S. recession. The country-based reciprocal tariffs will be unveiled tomorrow in a Rose Garden event. In France, Marine Le Pen has vowed to appeal a court ruling that she embezzled EU funds, banning her from public office for 5 years. And in tech news, OpenA.I. announces it has secured $40bn in what is the large...

Asian markets ae in the red with the Nikkei 225 plunging to a more than six-month low as jitters are felt ahead of President Trump’s tariffs due on 2nd April. Trump hits out at Russian President Vladimir Putin for delaying a ceasefire deal with Ukraine and hints at secondary tariffs on buyers of Russian oil. In France, Marine Le Pen is in court on charges of embezzling money from the European Parliament, potentially b...

The S&P 500 and Nasdaq are on track to post their worst trading week since September 2023 ahead of next week’s Trump tariff blitz on ‘Liberation Day’, April 2nd. Chinese President Xi Jinping hosts CEOs in Beijing in a bid to boost business ties and calls for trade dialogue with the U.S. We hear from Santander chair Ana Botin who calls U.S. tariffs as a tax on consumers and says that the levies will hit America har...

President Trump slaps a 25 per cent levy on all car imports to the U.S., sending autos shares sharply lower. European Commission President Ursula Von Der Leyen says the bloc will seek to negotiate with President Trump but vows to protects its own economic interests. Germany’s car industry association says the tariffs are a ‘fatal signal’ for global free trade. UK Chancellor of the Exchequer Rachel Reeves restores her fisca...