Bonds & Stocks
Equities barely budged, with the S&P 500 wavering after the OECD slashed its global forecasts, saying combative tariff policies have tipped the world economy into a downturn.
Economy
Donald Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said. The OECD now forecasts global economic growth to slow to 2.9% this year from 3.3% in 2024. It expects the rate of expansion in the US will tumble further, to 1.6% from 2.8%.
World
After the US and China agreed in Geneva to lower tariffs from astronomical heights, tensions are now surging over access to chips and rare earths. The main sticking point appears to be critical minerals, with US officials complaining Beijing hadn’t sped up exports needed for cutting-edge electronics.