Latest Business News
Panic Grips Korean Stocks as Kospi and Nikkei Tumble
South Korean stocks fell sharply in premarket and deepened losses as markets opened in Seoul and Tokyo, leading Asia's selloff. January industrial output dropped from the previous month, exacerbating concerns. Analysts attribute the plunge to US market declines, spiking oil prices, and Iran tensions.
Trump Threatens to Cut All Trade with Spain Over NATO Dispute
US President Donald Trump warned of severing all trade with Spain, labeling it a 'terrible ally' for refusing to raise NATO spending to 5% of GDP and denying US aircraft base access for Iran strikes. The comments came during a White House meeting with German Chancellor Friedrich Merz.
Trump defended US-Israeli actions against Iran.
Oil Spikes as Markets React to Iran Conflict
Asian stocks are poised to follow US declines amid surging oil prices triggered by Iran tensions. ANZ's Dan Hynes discussed the crude oil outlook, while Goldman's Solomon noted a benign market reaction so far.
Fed officials warn of rate path uncertainty from the Iran war.
Australia's Strong Growth Keeps Rate Hike on Table
Australia reported robust economic growth, maintaining prospects for a rate hike despite global turmoil. Carney arrived in Australia amid these developments.
The data contrasts with Asia's broader selloff.
China's Leadership Meetings Focus on 2030 Growth Plan
China's leaders are meeting to finalize growth plans through 2030 amid international crises. Bloomberg Economics highlights supply chain uncertainty as key.
Markets watch for policy announcements.
Iran Attacks Force Qatar LNG Facilities Closure
Iran's strikes on Qatar's LNG facilities led to temporary shutdowns, posing risks to global economies. Qatar warned Iran has crossed all red lines.
Over 8,000 transit passengers are stranded with Qatar's airspace closed.
Airlines Suspend Flights Amid Middle East Escalation
Global airlines are halting more flights to the Middle East due to the Iran conflict. France plans evacuations of vulnerable nationals from the region.
Disruptions compound supply chain woes.
Apollo Warns of Private Markets Shakeout
Apollo's Rowan predicts an impending shakeout in private markets amid volatility. JPMorgan's Kerry Craig commented on the broader market selloff.
Tensions from Iran add to investor caution.
Trump Pledges US Escort for Tankers Through Hormuz
President Trump stated the US will escort and insure tankers through the Strait of Hormuz amid threats. This follows US-Israeli strikes knocking out much of Iran's naval capabilities.
Measures aim to secure oil flows.
Fed Faces Rate Uncertainty from Iran War
US Federal Reserve officials highlighted fresh uncertainty in rate paths due to the Iran conflict. Market reactions include gold and asset shifts.
Goldman Sachs notes relatively calm response so far.
Retail Outlook Darkens as DFI Group CEO Warns
DFI Group Chief Executive Scott Price discussed a cautious retail outlook amid Asia's market turmoil. Korean losses lead regional declines.
Supply chain issues from conflicts weigh heavily.