Newscasts - Asian markets jump after day of wild volatility on Wall Street
08/04/2025 04:56
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_sju7dnpj&referenceId=tag:reuters.com,2025:newsml_RW495808042025RP1_K15&pageId=Newscasts Source: 'Reuters - General news videos' Description: Asian stocks bounced back on Wednesday following a day of wild swings on Wall Street. Julian Satterthwaite reports. Short Link: https://refini.tv/4crjVBZ Video Transcript: There was some relief for investors Tuesday, as Asian stocks rebounded. Japan's Nikkei index was up around 6% in early trade. Tech stocks were among the risers, following gains for US peers. Chip gear maker ADVANTEST leapt as much as 11%. Markets in China gained too, with Hong Kong's Hang Seng index up around 2.5% early on. It all came after a day of wild volatility on Wall Street. Equities there swung between gains and losses, at one point soaring on a report Donald Trump would delay imposing tariffs for 90 days. The US President denied having any such plan. Well, we're not looking at that. We have many, many countries that are coming to negotiate deals with us, and they're going to be fair deals and in certain cases, they're going to be paying substantial tariffs In the end, the Dow Jones index closed almost 1% lower, while the NASDAQ eked out a tiny rise. Now, uncertainty remains extremely high, despite Tuesday morning's gains. Traders are on alert for any sign that tariffs could be paused and are watching for clues that a US interest rate cut is coming. Some now bet the Federal Reserve could act as soon as next month. Penn Mutual Portfolio Manager George Cipolloni says Trump's policies have put markets in a difficult spot. Whenever we've had a crisis, be it COVID, be it the Great Financial Crisis, be it 9/11 even, we've always had the government as the safety net for the markets. And that's gone today because the government is the cause of this crisis, which makes it so unique and so unusual. Even traditional safe havens have seen falls, with gold and US government bonds heading lower over the past day. Some traders say investors may just be selling everything, and holding cash, while they wait out the storm. Now, all eyes are on Trump's next move. He's threatened to ramp up tariffs on China yet further, if Beijing goes ahead with its own retaliatory levies. With neither side looking ready to back down, the question is whether Tuesday's respite for markets will prove short-lived.