Key takeaways:
- U.S. court struck down Trump’s tariffs, raising uncertainty around future trade policy.
- Rising U.S.–Russia tensions and Gaza airstrikes reignited geopolitical fears.
- Bitcoin fell to $107,650, while gold dipped to $3,275.56.
- Fed signals persistent inflation, fueling rate hike concerns and market volatility.
On Thursday, May 29, markets reacted sharply to a wave of disruptive forces as investor confidence deteriorated midweek, dragging most major global indices into the red.
One of the main triggers was a U.S. federal court ruling that struck down former President Donald Trump’s broad tariffs on imports, raising questions about how trade policy will be enforced going forward. The decision was viewed not just as a legal setback, but as a warning that aggressive economic nationalism could face resistance from the courts.
Simultaneously, geopolitical flare-ups, including new Israeli airstrikes in Gaza and rising tensions in the ongoing “Cold War” between the U.S. and Russia, have fueled fears of oil supply disruptions, sending Brent and WTI crude climbing sharply.
Economic concerns deepened with the Federal Reserve’s latest minutes indicating a hawkish tilt. Policymakers warned inflation remains “stubbornly persistent,” heightening expectations for future tightening. In parallel, surging U.S. Treasury yields, with the 30-year above 5%, revived fears of liquidity constraints and corporate borrowing stress.
Altogether, the collision of legal setbacks, geopolitical flashpoints, inflation risks, and uncertain monetary policy created a storm of negative sentiment, leaving markets in the red.
Global Indices: Broad Declines Across Major Markets
- S&P 500: 5,888.55 (-0.56%)
- Dow Jones Industrial Average: 42,098.70 (-0.6%)
- Nasdaq Composite: 19,100.94 (-0.5%)
- FTSE 100: 8,775.01 (+0.22%)
- Nikkei 225: 38,500.00 (+1.88%)
- Euronext 100: 1,585.00 (-0.36%)
Cryptocurrency Market: Mixed But Resilient
- Bitcoin (BTC): $107,685.00 (-0.12%)
- Ethereum (ETH): $2,728.13 (+1.26%)
- BNB: $682.43 (-0.18%)
- XRP: $2.29 (+0.51%)
- Solana: $169.5 (-4.2%)
Individual Stocks: Tech Giants Under Pressure
- Apple Inc. (AAPL): $200.25 (-0.56%)
- Microsoft Corp. (MSFT): $457.71 (-0.92%)
- NVIDIA Corp. (NVDA): $134.34 (-0.51%)
- Amazon.com Inc. (AMZN): $204.19 (-0.74%)
- Meta Platforms Inc. (META): $643.12 (+0.26%)
- Tesla Inc. (TSLA): $356.78 (-1.04%)
Commodities: Oil Climbs, Gold dips
- Brent Crude: $65.20 (+1.07%)
- WTI Crude: $62.79 (+1.54%)
- Gold: $3,273.56 (-0.87%)
Market Wrap-Up
Markets traded lower on Thursday as legal, geopolitical, and economic pressures converged. With equities under strain, both digital assets and traditional safe havens failed to offer relief, despite a spike in oil prices.
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