Global markets fell on Tuesday after US president Donald Trump’s pledge on Monday to impose a 25 per cent tariff on any country that does business with Iran, along with his attacks on Federal Reserve independence.
Dublin
Euronext Dublin was down 0.8 per cent at close of business as a number of the index’s heavy hitters finished the day in the red.
The worst performer was Cavan-based insulation specialist Kingspan, which finished the day down 3.25 per cent. The dip was linked by a trader to news that peer company Rockwell had assets seized in Russia, leading to an 8 per cent fall in its share price.
The dips were less pronounced for the financial names, but they too finished in the red with AIB and Bank of Ireland down 0.2 per cent and 8 basis points respectively.
Meanwhile, budget airline Ryanair suffered a drop of 0.7 per cent, while food giant Kerry Group sank 0.3 per cent.
It was also a bad day for the housebuilders as Cairn Homes and Glenveagh Properties 1.9 per cent and 2.2 per cent respectively.
London
Stock prices in London closed mostly lower following news of slowing US core inflation and a raised forecast from the World Bank.
The FTSE 100 index closed down 3.35 points at 10,137.35. The FTSE 250 ended down 0.5 per cent, and the AIM All-Share closed up 0.3 per cent.
Whitbread remained at the top of the FTSE 100, up 7.1 per cent, having reported “continued strong trading momentum” in the third quarter.
In smaller caps, Brave Bison rose 3.2 per cent, after the advertising and communications agency reported net revenue of “not less than” £33.5 million (€38.7 million) for 2025, up 57 per cent from £21.3 million the year before and ahead of consensus expectations.
Europe
Euro zone bond yields edged up after reversing Monday’s drop, as central bank chiefs lined up in support of Federal Reserve chairman Jerome Powell after the Trump administration threatened him with a criminal prosecution.
Easing some concerns around the Fed’s independence, the Trump administration’s move was also criticised by key members of the president’s Republican Party.
Germany’s 10-year yield, the benchmark for the euro zone, was last one basis point at 2.81 per cent, after a 2.5 basis point decline a day earlier.
The 10-year U.S. Treasury yield was down 1.8 basis points to 4.16 per cent after the US inflation data cemented expectations that the Fed would leave interest rates unchanged this month.
In European equities, the Cac 40 in Paris closed down 0.1 per cent, while the Dax 40 in Frankfurt ended marginally higher. The Stoxx Europe 600 fell 0.3 per cent.
New York
US stock indexes fell, pressured by financials after JPMorgan cautioned that a planned cap on credit-card rates would weigh on consumers, while an expected increase in inflation kept bets alive for interest rate cuts this year.
Shares of Visa slumped 4.7 per cent and Mastercard fell 5.3 per cent as JPMorgan Chase chief financial officer Jeremy Barnum’s comments revived a selloff on concerns over a proposed 10 per cent one-year cap on credit card interest rates.
JPMorgan dropped 2.5 per cent as a drop in investment banking fees also overshadowed its better-than-expected quarterly profit.
The S&P 500 banking index fell about 1 per cent. Other big banks, due to report their quarterly numbers later this week, are widely expected to post stronger results, helped by a pickup in deal-making.
With the S&P 500 and the Dow near record highs, investors once again rotated away from richly valued growth stocks toward overlooked areas of the market, continuing a pattern seen since the beginning of the year.
Tech stocks slipped 0.2 per cent, while energy, consumer staples, and industrials gained.
Meanwhile, Intel shares and AMD gained about 5.5 per cent each after KeyBanc upgraded both the chipmakers’ shares to “overweight”.
Delta Air Lines shares fell 2.4 per cent as the mid-point of its 2026 profit forecast fell short of analysts’ expectations. (Additional reporting: Agencies)
