August 20, 2025
United States:
US Stocks Poised to Extend Losing Streak Ahead of Jackson Hole
Stocks headed for a fourth straight day of declines as investors questioned sky-high valuations amid a deluge of earnings reports from retailers, with a closely watched Federal Reserve symposium to come later this week.
The S&P 500 Index was down 0.1% after the open, led by the information technology and consumer discretionary sectors.
Europe:
Lagarde Sees Slower Growth With Some Trade Uncertainty Lingering
The euro-zone economy is likely to see slower growth this quarter, with question marks over global trade remaining despite recent deals with the US reducing uncertainty, European Central Bank President Christine Lagarde said.
Speaking in Geneva, Lagarde said the 15% tariff now in place for most European goods is a little above the level the ECB assumed in June but “well below” a severe scenario it had also mapped out.
Asia:
Japan’s Exports Fall Most in Four Years as Tariff Pain Deepens
Japan’s exports sustained their steepest drop in more than four years as US tariffs continued to weigh on global commerce, clouding the outlook for economic growth at a time when personal spending remains unsteady.
Exports fell 2.6% in value in July from a year earlier, sliding more than the median forecast of a 2.1% decline, the Ministry of Finance reported Wednesday.
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