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us tariffs on auto imports spark market concerns and geopolitical tensions
US equities fell as President Trump announced a 25% tariff on foreign-made vehicles and parts, effective April 3, raising supply chain concerns. The S&P 500 dropped 1.1%, while defensive sectors like consumer staples led a rotation. In Europe, the ECB's discussions on monetary policy and credit growth data are pivotal, as Norges Bank is expected to cut rates despite rising inflation. Geopolitical tensions persist with stalled ceasefire talks between Ukraine and Russia, as EU leaders convene to address security concerns.
protests against elon musk escalate in london targeting tesla and his influence
In London, protests against Elon Musk and Tesla are gaining momentum, fueled by groups like Tesla Takedown UK and People vs Profiteers, which criticize Musk's political influence and actions. Demonstrators, including a former US National Parks employee, express solidarity with US protests and aim to hold Musk accountable for his perceived far-right affiliations. Campaigns include guerrilla advertising and calls for Tesla owners to sell their cars, highlighting the connection between Musk's wealth and Tesla's sales.
oil prices decline amid trade tensions and geopolitical shifts
WTI oil prices have dropped nearly 15% to around $67 per barrel, influenced by trade tensions, increased OPEC+ production, and easing geopolitical tensions regarding Ukraine. The market is cautious as new tariffs may be implemented, and US economic indicators show signs of weakness, raising concerns about energy demand. The price is nearing a significant support level at $66, suggesting a potential buying opportunity, but the overall economic outlook remains uncertain.
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