International markets update:
Global markets face heightened uncertainty as the U.S. intensifies pressure on both allies and adversaries, triggering retaliatory trade actions and a notable surge in Treasury yields.
- The U.S. imposed 50% tariffs on some Canadian goods after trade talks collapsed, leading to Canada’s planned dollar-for-dollar retaliation and President Trump accusing Canada of seeking unfair advantages.
- Treasury Secretary Scott Bessent announced a comprehensive package of sanctions against Iran, labeling it the “single greatest financial offensive” and demanding global cessation of business with the nation.
- Longer-dated U.S. Treasury yields resumed their upward trajectory, with the 30-year yield rising to 5.273% and the 10-year yield reaching 4.734%, largely erasing recent rally gains and pushing U.S. stock futures lower.
- Asian markets showed a mixed performance following the U.S. bond market movements, with Japan’s Nikkei 225 posting gains while South Korea’s Kospi experienced a decline.
- AI firm Anthropic is preparing for its public market debut, but faces significant risks from growing public concern over artificial intelligence, opposition to new data centers, and competitive pressures from open-source models.
- Meta faces a potentially massive “trillion-dollar penalty” and fundamental damage to its advertising model from a lawsuit seeking to remove “addictive design features” like infinite scrolling, which could redefine social media as we know it.
Stock Market News summarised for the Wall Street Investors Club community.