Stock market today: Asian shares mostly fall on worries about Trump's tariffs

📆 2024-11-26 08:52:00
📰 AP

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Asian shares have mostly declined as worries spread over President-elect Donald Trump's comment that he plans to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office. Benchmarks slid in Japan, Australia and South Korea, while being little changed in Hong Kong and rising in Shanghai.

A person walks in front of an electronic stock board showing part of Japan’s Nikkei index at a securities firm Tuesday, Nov. 26, 2024, in Tokyo. A person walks in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Tuesday, Nov. 26, 2024, in Tokyo. A person walks in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Tuesday, Nov. 26, 2024, in Tokyo.

The Russell 2000 index of smaller stocks jumped 1.5%. It finished just shy of its all-time high, which was set three years ago. Smaller companies can feel bigger boosts from lower borrowing costs because of the need for many to borrow to grow. A report coming on Wednesday could influence how much the Fed may cut rates. Economists expect it to show that an underlying inflation trend the Fed prefers to use accelerated to 2.8% last month from 2.7% in September. Higher inflation would make the Fed more reluctant to cut rates as deeply or as quickly as it would otherwise.jumped 16.5% after delivering stronger profit for the latest quarter than analysts expected.

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