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April 12, 2025

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European stocks wrap volatile week mixed: FTSE 100 inches higher, DAX dips

3 Mins Read

European markets closed out a turbulent week with modest losses on Friday, as the intensifying tariff standoff between the United States and China continued to rattle global investor sentiment.

The pan-European Stoxx 600 index slipped 0.1%, retracing slightly after logging its strongest session since March 2022 on Thursday.

The UK’s FTSE 100 rose 0.64% after better-than-expected GDP data for February, while the mid-cap FTSE 250 was flat.

Germany’s DAX declined 0.9% and France’s CAC 40 dipped 0.3%.

The euro continued to strengthen, gaining 1.3% against the US dollar to reach $1.134 — its highest level since February 2022 — on the back of optimism over economic resilience in the eurozone.

Sector-wise, risk-off sentiment remained evident. Industrials, technology, and energy stocks stayed under pressure, while defensive sectors such as utilities and consumer durables attracted buyers.

Trump tariff tensions dominate market narrative

The session capped a week marked by extreme volatility, fueled by policy uncertainty surrounding US President Donald Trump’s new tariff regime.

The White House’s initial move to impose steep “reciprocal tariffs” on nearly 90 countries and territories was walked back midweek, replaced by a 10% blanket levy for 90 days to allow for negotiations, excluding China, which faces a punitive 145% import duty.

In response, Beijing raised its tariffs on US goods to 125%, up from 84%, escalating fears of a prolonged disruption in global trade flows.

Despite these developments, European equities have shown greater resilience than their US counterparts.

While the S&P 500 has dropped nearly 11% year-to-date, the Stoxx 600 is down only 4.4%.

France’s CAC 40 has slipped 4%, the FTSE 100 is lower by about 3%, and Italy’s FTSE MIB has declined just 0.9%.

Germany’s DAX remains an outlier, up 2.4% so far in 2025.

Analysts attribute this relative outperformance to expectations that the economic fallout from the US-led trade conflict will be less severe in Europe.

Several Wall Street banks have noted that Europe’s diversified export base, stronger trade links with Asia outside of China, and more conservative monetary policy responses may cushion the impact.

US stocks on Friday

After starting the day in red, US stocks edged higher Friday as investors tried to find footing following a volatile week dominated by tariff headlines and economic data.

The S&P 500 rose 0.5%, the Dow Jones Industrial Average gained 140 points, or 0.4%, and the Nasdaq Composite climbed 0.7%.

The move higher came despite a setback in consumer sentiment data that briefly pressured equities.

The University of Michigan’s consumer sentiment index for April fell more than expected, signaling rising unease among households.

The University of Michigan’s latest consumer sentiment survey showed a sharp decline in confidence, with the index falling to 50.8 in April from 57 in March.

This marks one of the lowest readings since the pandemic-era lows and underscores rising anxiety among consumers amid inflation concerns and escalating trade tensions.

More notably, consumers’ year-ahead inflation expectations surged to their highest level since 1981, stoking concerns that price pressures could persist even as broader inflation gauges show signs of cooling.

The post European stocks wrap volatile week mixed: FTSE 100 inches higher, DAX dips appeared first on Invezz

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In World news

Crypto Market Recap: Trump Signs First Crypto Bill, SEC Issues Crypto Guidance

6 Mins Read

Here’s a quick recap of the crypto landscape for Friday (April 11) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

At the time of this writing, Bitcoin (BTC) was priced at US$83,823.99 and up 5.2 percent in 24 hours. The day’s range has seen a low of US$81,675.28 and a high of U$83,968.58.

Bitcoin performance, April 11, 2025.

Chart via TradingView.

Markets recovered on Friday afternoon after a week of unprecedented volatility triggered by an ongoing trade war between the US and China. Stronger-than-expected producer price index data out of the US suggests inflation could be easing, igniting a recovery for the crypto and stock markets.

Ethereum (ETH) is priced at US$1,565, a 3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,549.00 and a high of US$1,582.64.

Altcoin price update

  • Solana (SOL) is currently valued at US$120.57, up 8.4 percent over the past 24 hours. SOL experienced a low of US$118.23 and a high of US$121.52 on Friday.
  • XRP is trading at US$2.05, reflecting a 4.2 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.99 and a high of US$2.06.
  • Sui (SUI) is priced at US$2.22, showing an increaseof 6.5 percent over the past 24 hours. It achieved a daily low of US$2.17 and a high of US$2.24.
  • Cardano (ADA) is trading at US$0.6279, reflecting a 4.9 percent increase over the past 24 hours. Its lowest price on Friday was US$0.6175, with a high of US$0.6313.

Crypto news to know

Trump overturns IRS DeFi rule

US President Donald Trump has signed into law a bill nullifying an Internal Revenue Service (IRS) rule that controversially expanded the definition of “broker” to include decentralized finance (DeFi) platforms.

The regulation, finalized in the waning days of the Biden administration, would have required DeFi protocols — which operate without intermediaries — to report detailed user transaction data to the IRS, something crypto developers argued was both technically unfeasible and legally dubious.

With bipartisan support, both chambers of Congress passed the reversal using the Congressional Review Act. The decision is part of Trump’s broader pledge to position the US as a global crypto leader.

In his first week back in office, he created a federal working group on cryptocurrency regulation and signed an executive order to build a national Bitcoin reserve. The Trump administration has also repeatedly criticized the Biden-era IRS framework as stifling innovation and creating legal liabilities for developers.

SEC issues guidance on crypto securities disclosures

Intending to build on the US Securities and Exchange Commission’s (SEC) Crypto Task Force, the commission’s Division of Corporation Finance issued guidance on how federal securities laws should apply to crypto.

The commission said companies issuing or dealing with tokens that could be securities should give better details about their business. However, the statement didn’t provide clarity on what digital assets could be securities.

Crypto companies typically provide details about their operations, the function of their tokens, and their plans for generating revenue. They also address their future involvement with any launched crypto networks or apps, specifying who will take responsibility for them if the company itself does not.

The SEC has requested that cryptocurrency companies provide additional details about their technology. This includes specifying whether their product uses a proof-of-work or proof-of-stake blockchain, as well as information about its block size, transaction speed, reward mechanisms and the measures taken to ensure network security.

The SEC also asked whether the protocol is open-source or not.

It added that a company should share if a protocol’s code can be modified, and if so, who can make such changes and whether the smart contracts involved have been subjected to a third-party security audit.

Other disclosures the statement mentioned are whether the token’s supply is fixed and how it was or will be issued, along with identifying executives and “significant employees.”

New York moves to let state agencies accept crypto payments

New York could soon become one of the first US states to formally integrate cryptocurrency into government operations.

A newly filed bill, Assembly Bill A7788, introduced by Assemblymember Clyde Vanel, proposes to allow state agencies to accept crypto — including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash — for a wide range of payments such as taxes, fees, rent, and fines.

The proposed legislation would authorize agencies to enter agreements with crypto payment providers, ensuring that final settlements are made in fiat currency to shield state budgets from crypto market volatility.

More importantly, the bill stipulates that debts would not be considered legally settled until the state receives full fiat payment, preserving the integrity of public finance processes.

Agencies may also charge service fees to offset transaction costs and volatility hedging. While this is not the first time such a proposal has emerged — similar bills were introduced in previous legislative sessions but failed to advance — the current climate of growing mainstream adoption and Trump-era pro-crypto sentiment may improve its chances.

SEC and Ripple seek abeyance in legal proceedings

The SEC and Ripple have filed a joint motion to put their appeals in abeyance, pausing proceedings in a sign that both entities anticipate a settlement will be reached when newly appointed SEC Chairman Paul Atkins takes over.

The Senate confirmed Atkins on April 9; however, no date has been set for his swearing-in.

“An abeyance would conserve judicial and party resources while the parties continue to pursue a negotiated resolution of this matter,” the parties jointly stated in an April 10 court filing. Ripple’s defense attorney, James Filan, said the new filing supersedes the April 16 deadline for Ripple to respond to the SEC’s brief filed in January.

In other developments, the SEC dismissed its lawsuit against Helium developer Nova Labs for allegedly issuing unregistered securities.

BlackRock reports digital asset inflows

BlackRock (NASDAQ:BLK) released its Q1 earnings report on Friday, reporting US$84 billion in total net inflows in the first quarter of 2025, marking a 3 percent annualized growth in assets under management (AUM).

Its performance was led in part by US$107 billion in net inflows to its iShares ETFs, roughly US$3 billion, or 2.8 percent, directed to digital asset products. Digital AUM amounted to US$50.3 billion at the end of Q1, roughly 0.5 percent of the firm’s US$11.6 trillion total AUM.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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In Business

Retirees ‘stunned’ as market turmoil over tariffs shrinks their 401(k)s

5 Mins Read

Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.

“What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

As Wall Street reeled Friday after China hit back with tariffs against the U.S., millions of Americans with 401(k)s watched their retirement funds diminish along with the stock market.

“I looked at my 401(k) this morning and in the last two days that’s lost $58,000. That’s stressful,” said Victor Fettes, 54, of Georgia, who retired last week as a senior director of risk management and compliance at Verizon. “If that continues, I can’t stay retired.”

Trump has said the tariffs will force businesses to relocate manufacturing and production back to the U.S. and bring back jobs. Some investors and business groups have pushed back, saying they are likely to lead to higher prices for U.S. consumers.

“Our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said recently. “But it is not going to happen anymore.”

The president has acknowledged the potential pain coming to some Americans’ wallets, but he continues to staunchly defend his agenda.

“MY POLICIES WILL NEVER CHANGE,” he posted to social media Friday. Later, he wrote, “ONLY THE WEAK WILL FAIL.”

Trump’s tariffs are steeper and more widespread than any in modern American history. They are potentially even broader than the tariffs of 1930 that historians said worsened the Great Depression.

Some Americans thinking about retirement told NBC News they feel their economic stability is being played with.

“I don’t want to have to worry that everyone is constantly changing my financial reality,” said Alison Carey, 64, of Oregon, a freelancer in the theater industry. “Let the economy do its machinations, but don’t put me in the gears.”

Paula said she and other older Americans are living with “anxiety about something where you don’t really know what’s going to happen. You can’t do anything though.”

She and her husband have decided to pause and reduce spending on big-ticket items. They are reconsidering vacations and home renovations.

“We can’t change anything right now, except our spending,” she said. “I’m sure there are consumers across the board that want to be cautious, too. Then it becomes a vicious cycle. Consumer confidence goes down.”

One in five Americans age 50 and over have no retirement savings, and more than half, 61%, are worried they will not have enough money to support them in retirement, according to a survey published by the AARP last April.

“It makes you realize how out of touch the current administration is with regular people,” said Benajah Cobb, 63, Carey’s husband, who also works in the theater industry.

He said he hoped the last few days of stock market turmoil would motivate lawmakers to put more checks and balances on the president.

“It’s happening so quickly. Things are falling apart so quickly,” he said. “I’m hoping Congress will try to step up a bit, the Republicans in Congress.”

Fettes said he has been calling his representatives about the tariffs and other issues “to make sure that as a constituent, our voices are being heard.”

“We believe firmly in our family that a democracy is a participatory game, and so we want to make sure that our representatives understand where we’re at and what we would like for them to do to represent,” he said.

Paula said that as she and her husband continue to monitor their retirement accounts, their biggest fear is how Trump’s policies could impact the quality of the rest of their lives — and when their funds will run out.

“That’s my big worry, when is that shortfall going to happen now?” she said.

This post appeared first on NBC NEWS

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In Politics

Trump envoy meets Putin in Russia as Trump fumes over stalled Ukraine peace talks

4 Mins Read

White House envoy Steve Witkoff was in Russia on Friday to meet with Russian President Vladimir Putin after peace talks with Ukraine stalled out in recent weeks, ‘frustrating’ President Donald Trump.

‘This is another step in the negotiating process towards a ceasefire,’ White House press secretary Karoline Leavitt said of the meeting. ‘I think the president has been quite clear that he’s been continually frustrated with both sides of this conflict, and he wants to see this fighting, and he wants the war to end.’

Russian media broadcast images of Putin and Witkoff meeting at the presidential library in St. Petersburg. 

Leavitt said the U.S. had ‘leverage’ over Ukraine and Russia to pressure them to agree to peace.

‘We believe we have leverage in negotiating a deal… And we’re going to use that leverage. And the president is determined to see this through,’ Leavitt said.

Trump has demanded that both sides agree to an immediate 30-day ceasefire while they hash out a longer peace deal. Ukraine has agreed to this, while Russia has not. President Volodymyr Zelenskyy claimed Ukraine had found two Chinese men fighting on behalf of Russia within their borders, a development that would suggest Russia is receiving direct manpower aid from both North Korea and China. 

Zelenskyy said at least 155 Chinese citizens were fighting for Russia as he accused Putin of ‘prolonging the war’ — a claim the Kremlin denied Thursday, stating that China takes a ‘balanced position’ to the war and that ‘Zelenskyy is wrong.’ Fox News Digital has reached out to the Russian Ministry of Defense for further comment.   

Ahead of Witkoff’s meeting with Russian officials, Trump ramped up pressure on Putin, writing on Truth Social: ‘Russia has to get moving. Too many people are DYING, thousands a week, in a terrible and senseless war – a war that should have never happened, and wouldn’t have happened, if I were President!!!’

Trump said on March 31 that he was ‘pissed off’ with the Russian leader and threatened to put ‘secondary tariffs’ on Russia’s oil exports, its financial lifeline for the war effort. That could mean sanctioning countries that buy Russian oil or cracking down on its ‘shadow fleet’ of tankers carrying oil across the globe in disguise.

Trump has previously aired out complaints about Zelenskyy, too, calling him a ‘dictator without elections.’ A public White House meeting last month erupted into a near-shouting match where Zelenskyy abruptly left the premises. 

Ukraine agreed to both the unconditional ceasefire and a more tailored maritime ceasefire, but Russia has made a fresh round of demands, including the lifting of some sanctions. 

‘We are making progress. We hope that we are getting relatively close to getting a deal between Russia and Ukraine to stop the fighting,’ Trump said during a Cabinet meeting on Thursday. 

The U.S. and Russia carried out a prisoner exchange deal that saw the return of ballerina and U.S.-Russian citizen Ksenia Karelina to the U.S. on Friday. Karelina was sentenced to 12 years in prison at the start of the war in 2022 for donating $51 to a Ukrainian charity. 

On Thursday, U.S. and Russian officials met in Istanbul to discuss reopening operations at each other’s embassies. 

The St. Petersburg gathering is Witkoff’s third meeting with Putin this year. Over the weekend he will head to Oman to negotiate with Iran in nuclear talks.

Ahead of Friday’s meeting, Kremlin spokesman Dmitry Peskov said there was ‘no need to expect breakthroughs’ and the ‘process of normalizing relations is ongoing.’

Reuters contributed to this report.

This post appeared first on FOX NEWS

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