Stocks, dollar on back foot as trade war, Powell comments weigh

Ankur Banerjee - Reuters - 17/04

Asian stocks wavered on Thursday after Federal Reserve Chair Jerome Powell warned of the risk of slowing growth and rising prices due to tariffs, while the uncertainty around U.S. trade policies kept the dollar rooted near three-year lows.

Summary
Companies

TSMC earnings in focus after warnings from Nvidia, ASML
Gold scales record high again on safe haven flows
Dollar inches higher but under pressure on trade worries

SINGAPORE, April 17 (Reuters) - Asian stocks wavered on Thursday after Federal Reserve Chair Jerome Powell warned of the risk of slowing growth and rising prices due to tariffs, while the uncertainty around U.S. trade policies kept the dollar rooted near three-year lows.

The spotlight stayed on technology shares after a bruising session on Wednesday in the wake of warnings from bellwethers Nvidia (NVDA.O), opens new tab and ASML (ASML.AS), opens new tab, and ahead of earnings from Taiwan's TSMC (2330.TW), opens new tab.

Safe haven gold prices remained on the charge, notching up yet another record high in early trading on Thursday, while Powell's comments that U.S. economic growth appeared to be slowing pushed Treasury yields lower.

In early Asia, stock markets were tentative across the region, after U.S. stocks closed sharply lower. South Korea's benchmark index (.KS11), opens new tab inched 0.4% higher, while Taiwan stocks (.TWII), opens new tab fell 0.5%.

Japan's Nikkei (.N225), opens new tab rose 0.7% while the yen weakened as Japan kicked off talks with the U.S. and President Donald Trump, in a surprise move to negotiate directly with the Japanese delegation, said there was "big progress".

Elsewhere, Powell said the Fed would wait for more data on the economy's direction before making any changes to interest rates.

"Powell is between a rock and ...
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Source and Copyright images and texts: Ankur Banerjee - Reuters
Original link, read full article here: https://www.reuters.com/markets/global-markets-wrapup-1-2025-04-17/
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