Markets on Edge: Trade Talks and Tariff Tensions Shake Global Economy

Wall Street experienced fluctuations as investors balanced corporate earnings, President Trump's tariff negotiations, and economic data. Canada's election highlighted resistance to Trump's trade policies. U.S.-China trade talks continued, and China exempted ethane from tariffs. Consumer confidence and job openings fell, impacting indices globally.

Wall Street seesawed between gains and losses on Tuesday amid investor concerns over corporate earnings and President Donald Trump's complex tariff negotiations. Oil and gold prices slumped as economic indicators painted a pessimistic picture, with the Dow Jones leading the positive end-of-day performance among major U.S. stock indices.

Canada's recent election showed a clear rejection of Trump's aggressive trade policies and his remarks about annexing the nation as the 51st U.S. state. "Canada is standing firm," noted Tim Ghriskey of Ingalls & Snyder. U.S. Treasury Secretary Scott Bessent reported ongoing tariff negotiations with China, highlighting Beijing's crucial role in the process.

Despite the dollar's brief rally on Bessent's comments about trade progress, the Canadian dollar slipped following their election outcome. Meanwhile, dropping U.S. Treasury yields reflected deepening investor unease over economic outlooks. Global indices varied, echoing concerns as energy demands and consumer confidence dwindled.

(With inputs from agencies.)