Markets News, Jul. 11, 2025: Stocks Retreat from Records
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Something different just happened to the U.S. dollar, which recently completed its worst first half of any calendar year since at least the 1970s: The dollar strengthened this week, despite President Donald Trump’s ongoing tariff talk.
The Canadian dollar edged higher against its U.S. counterpart on Thursday but the move was modest as the greenback notched broad-based gains and after new U.S. trade tariffs cast doubt about prospects of a trade deal this month between Canada and the United States.
Chinese traders are pulling back from the dollar, helping ease a shortage that has rattled the banking system and setting the yuan up for further gains.
A troubling shift in the dollar’s trading relationship with U.S. stocks has eased somewhat over the past few weeks.
The Indian rupee weakened on Thursday on the back of dollar bids from foreign banks and a broadly stronger greenback, after U.S. President Donald Trump continued to up the ante on tariffs by announcing a 35% levy on Canadian imports starting August 1.
Economists told Newsweek that the decline is due to a confluence of factors, and a broad downgrade in America's economic outlook.
Chinese nationals allegedly operated a marijuana ring using quiet homes as grow houses, withholding workers' passports until debts were paid, the DOJ says.
U.S. and European stock futures slid in Asia on Friday after President Donald Trump stepped up tariff threats against Europe and Canada, snuffing out an early rally in regional share markets.
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