Taiwan stocks retreated from early strong gains on Tuesday morning amid lingering concerns over the outlook for the U.S. economy and tech companies following a record plunge a day earlier. The main index jumped more than 4% in early trade to as high as 20,640.44 points, but quickly pared those gains to be up around…
Three U.S. senators have urged Federal Reserve Chair Jerome Powell to cut interest rates, arguing that high rates stifle the economy and raise housing and auto insurance costs, which are key inflation drivers. They warn that prolonged high rates risk a recession and increased unemployment, calling for immediate rate cuts to stabilize the economy. Senators…
Get Email Alerts and Follow Us: In April, the U.S. trade deficit expanded by 7.7% to $99.4 billion, the largest since June 2022, driven by a significant rise in imports, particularly in the auto sector. Imports grew by 3.1%, while exports only increased by 0.5%. Auto imports surged by 10.4%, whereas auto exports rose by…