{"id":661726,"date":"2025-03-04T00:00:00","date_gmt":"2025-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/04\/wall-street-faces-sell-off-amid-threat-of-tariffs\/"},"modified":"2025-03-04T00:00:00","modified_gmt":"2025-03-04T00:00:00","slug":"wall-street-faces-sell-off-amid-threat-of-tariffs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/04\/wall-street-faces-sell-off-amid-threat-of-tariffs\/","title":{"rendered":"Wall Street faces sell-off amid threat of tariffs"},"content":{"rendered":"

Wall Street faces worst day of 2025 yet: <\/strong>US stocks had their worst day so far this year after US President Donald Trump confirmed that a 25% levy on Mexico and Canada would go into effect today. The S&P 500 fell nearly 2%, while a tech stock sell-off pushed the Nasdaq down 2.2%, with chipmaker Nvidia losing some 10%. The Dow Jones was not spared, losing 1.5%, not helped by data showing that manufacturing activity eased in the country in February. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

What happened?<\/strong> Trump confirmed<\/a> the levies would take place, along with an extra 10% duty on Chinese imports, despite expectations of another potential delay. Trump also confirmed wider \u201creciprocal\u201d tariffs were coming in April.<\/p>\n

BTC also had a bad day: <\/strong>Despite rising the previous day after Trump\u2019s announcement<\/a> of plans for a BTC strategic reserve, BTC reversed most of the gains yesterday and fell as much as 9% to around USD 85k. <\/p>\n

Analysts and traders are not optimistic: <\/strong>Demand for US stocks is likely not high enough to sustain a rebound, a Goldman Sachs analyst said, while JP Morgan strategists also see US tech stocks continuing to face sell-offs amid uncertain economic growth and tariffs, Bloomberg<\/a> reports. BCA Research downgraded their recommendation for US equities to underweight from neutral, while upgrading European stocks to overweight. <\/p>\n

Set to benefit are value-dominated stocks in international markets and tariff-safe <\/strong>emerging market assets<\/a><\/strong>. While Wall Street faced a rout, European stocks hit fresh highs<\/a> yesterday, propped up by a rally in defense stocks after plans were revealed that the EU will be spending hundreds of bns of USD on defense financing for Ukraine. <\/p>\n

MARKETS THIS MORNING- <\/p>\n

Asian stocks were also impacted by Trump\u2019s tariff announceme<\/strong>nt<\/strong>, with Japanese stocks falling more than 2%, led by declines in Japanese tech players amid a widening risk-off sentiment as trade war fears grow. South Korea\u2019s Kospi was also down 0.13%, and Hong Kong\u2019s Hang Seng started the day down 1.58%. Meanwhile, mainland China\u2019s CSI 300 index dipped 0.59%. <\/p>\n

Over on Wall Street<\/strong>, futures are up slightly as investors brace for the full impact of the implementation of the tariffs. <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30<\/strong><\/p>\n<\/td>\n

\n

30,989<\/p>\n<\/td>\n

\n

+0.4% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 50.59<\/p>\n<\/td>\n

\n

Sell 50.72<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CIB)<\/strong><\/p>\n<\/td>\n

\n

Buy 50.60<\/p>\n<\/td>\n

\n

Sell 50.70<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates (CBE)<\/strong><\/p>\n<\/td>\n

\n

27.25% deposit<\/p>\n<\/td>\n

\n

28.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,124<\/p>\n<\/td>\n

\n

+0.7% (YTD: +0.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,560<\/p>\n<\/td>\n

\n

-0.1% (YTD: +1.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

5,328<\/p>\n<\/td>\n

\n

+0.2% (YTD: +3.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

5,850<\/p>\n<\/td>\n

\n

-1.7% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

8,871<\/p>\n<\/td>\n

\n

+0.7% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

5,541<\/p>\n<\/td>\n

\n

+1.4% (YTD: +13.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 71.57<\/p>\n<\/td>\n

\n

-1.7%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n

\n

USD 4.12<\/p>\n<\/td>\n

\n

+7.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold <\/strong><\/p>\n<\/td>\n

\n

USD 2,901<\/p>\n<\/td>\n

\n

+1.9%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 86,297<\/p>\n<\/td>\n

\n

-8.5% (YTD: -7.8%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

\n

THE CLOSING BELL-<\/p>\n

The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 3.6 bn (1.2% above the 90-day average). Local investors were the sole net buyers. The index is up 4.2% YTD.<\/p>\n

In the green: <\/strong>Abu Qir Fertilizers (+3.8%), Ibnsina Pharma (+3.8%), and Emaar Misr (+2.5%).<\/p>\n

In the red: <\/strong>Egypt Kuwait Holding -USD (-2.2%), Qalaa Holdings (-1.7%), and ADIB (-1.4%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Weak manufacturing data also contributed to the rout<\/p>\n","protected":false},"author":1,"featured_media":661727,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[72,164,119,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-enterpriseam","tag-equities","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"b411ffda-4030-41d5-8de4-78e4e70cbfec","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/246.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Wall Street faces sell-off amid threat of tariffs","related_issue":[661708],"teaser":"Weak manufacturing data also contributed to the rout","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.e5e870a8-5363-4824-b928-774b2610794c.mp3"},"yoast_head":"\nWall Street faces sell-off amid threat of tariffs - 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The country\u2019s manufacturing purchasing managers\u2019 index (PMI) dropped to 49.2 in April \u2014 below the 50.0 mark that separates growth from contraction\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2023\/05\/China-factory-automotive-1920px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562435,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/","url_meta":{"origin":661726,"position":1},"title":"Oil is having a bad week off of Iran\u2019s potential reentry to the market","author":"enterpriseam admin","date":"24 May 2021","format":false,"excerpt":"Oil posts worst weekly losses on Iran nuclear agreement progress: Oil prices suffered their biggest weekly losses in over a month, with the prospect of a supply glut following the lifting of US sanctions and the return of Iranian crude supplies weighing on prices, Bloomberg reports. Rising inflation concerns and\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639946,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/18\/global-stocks-record-best-week-in-nine-months-as-us-data-calm-recession-fears\/","url_meta":{"origin":661726,"position":2},"title":"Global stocks record best week in nine months as US data calm recession fears","author":"enterpriseam admin","date":"18 August 2024","format":false,"excerpt":"This comes as markets rebound from a \u201cbrutal\u201d sell-off during the first week of August","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1486.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568421,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/29\/what-the-markets-are-doing-on-29-december-2020\/","url_meta":{"origin":661726,"position":3},"title":"What the markets are doing on 29 December 2020","author":"enterpriseam admin","date":"29 December 2020","format":false,"excerpt":"The EGX30 rose 0.7% yesterday on turnover of EGP 979 mn (27.5% below the 90-day average). Foreign investors were net sellers. The index is down 23.7% YTD.In the green: Sidi Kerir Petrochemicals (+5.5%), Ezz Steel (+4.0%) and Egyptian Iron & Steel (+3.2%).In the red: Sodic (-0.7%), Export Development Bank (-0.2%)\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578765,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/12\/the-end-of-the-trusty-60-40-portfolio\/","url_meta":{"origin":661726,"position":4},"title":"The end of the trusty 60\/40 portfolio?","author":"enterpriseam admin","date":"12 January 2023","format":false,"excerpt":"Is the era of the traditional 60\/40 portfolio over? Portfolios with a classic split of 60% equities and 40% bonds delivered their worst performance since 1999 last year, losing 17% of their value, the Financial Times reports citing BlackRock data. Premised on the assumption that when stocks go down, bonds\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548684,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/us-retail-earnings-were-better-than-expected-in-2q\/","url_meta":{"origin":661726,"position":5},"title":"US retail earnings were better than expected in 2Q","author":"enterpriseam admin","date":"17 August 2022","format":false,"excerpt":"Better-than-expected retail earnings in the US yesterday kept the stock rally going even as tech stocks faced selling pressure on concerns about slowing growth and rising interest rates. The S&P 500 closed 0.2% in the green and the Dow gained 0.7% following a choppy trading session that saw a heavy\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=661726"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661726\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/661708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/661727"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=661726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=661726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=661726"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=661726"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=661726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}