The Bank of Italy cut its forecast for growth this year, reckoning that new US tariffs will hold back expansion in the euro zone’s third-biggest economy.
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Gold held near Monday’s fresh record, as a wave of volatility sent traders to havens ahead of President Donald Trump’s expected tariff rollout, which has heightened concerns the global economy is heading for a trade war.
South Africa’s trade ministry will seek talks with the US as its auto industry braces for a hit from Washington’s new tariffs this week, saying the duties could hurt local manufacturers and the economy.
US bank stocks are on track for the worst quarterly slide since the collapse of regional lenders set off fears of a crisis two years ago, hit by the broader economic worries unleashed by President Donald Trump’s trade war.