| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 41433.48 | -478.23 | -1.14% |
| S&P 500 | 5572.07 | -42.49 | -0.76% |
| Nasdaq | 17436.1 | -32.23 | -0.18% |
| VIX | 26.92 | -0.94 | -3.37% |
| Gold | 2921.9 | 1 | 0.03% |
| Oil | 66.64 | 0.39 | 0.59% |
US MARKET
US stock futures climbed on Wednesday as investors awaited the latest consumer inflation data, which could shape expectations for Federal Reserve policy. The central bank faces the challenge of curbing inflation while mitigating the economic risks posed by tariffs. In Tuesday’s regular trading session, major indexes declined, with the Dow dropping 1.14%, the S&P 500 losing 0.76%, and the Nasdaq Composite slipping 0.18%. All 11 S&P 500 sectors ended in the red, led lower by industrials, consumer staples, and healthcare. Notable losses were also seen from key tech names such as Apple (-2.9%), Alphabet (-1.1%) and Oracle (-3.1%).
Adding to market concerns, President Donald Trump announced on Tuesday that he would double tariffs on Canadian steel and aluminium to 50%, effective Wednesday, in response to Ontario’s decision to impose a 25% levy on electricity exports to the US. However, Ontario Premier Doug Ford later stated that he would pause the surcharge.
LOCAL MARKET
The S&P/ASX 200 Index fell 1.4% on Wednesday, dropping below 7,800 to reach a seven-month low after US President Donald Trump ruled out exempting Australia from his 25% tariffs on aluminum and steel. These metals account for nearly $1 billion of Australia’s exports, raising concerns about economic fallout. Heavyweight miners led the decline, with BHP Group (-1.4%), Fortescue Metals (-1.4%), and Rio Tinto (-2.4%) all posting losses.
Additionally, reports surfaced that Rio Tinto sold $9 billion in US investment-grade bonds on Tuesday to finance its large-scale acquisition of Arcadium Lithium (-1%). Broader market weakness extended to financial, healthcare, and technology stocks, with Commonwealth Bank (-1.8%), Pro Medicus (-1.7%), and Xero (-1.3%) also recording significant declines.