Markets in the US were mixed during a volatile trading session on Tuesday to begin the second quarter of the year, as continuing uncertainty over President Donald Trump's tariffs continue to weigh on investor sentiment.
Mr Trump was expected to unveil a list of tariffs on Wednesday – which he has called “Liberation Day” – that he has said will reduce US reliance on foreign goods. He said on Monday that he had made a decision on the latest plans, but did not reveal details.
The Dow Jones Industrial Averaged closed relatively flat at market close, down 0.03 per cent after paring losses of about 300 points earlier in the session. The S&P 500 and Nasdaq, which are coming off their worst quarterly losses since 2022, ended the day in green, rising 0.38 per cent and 0.87 per cent.
The yield on the 10-year Treasury fell about eight basis points to 4.167 per cent.
“The ebbs and flows of safe-haven support have dominated the Treasury market price action recently, and we expect that will continue over the near term as traders await tomorrow's tariff details and any global response,” Oxford Economics' lead US analyst John Canavan wrote in a note.
Investors received another piece of unwelcome economic data on Tuesday, as manufacturing activity contracted again in March as companies grapple with uncertainty over tariffs.
“A front-running of tariffs and shift to minimise import exposure is driving up prices, while persistent uncertainty is crimping underlying demand and leaves manufacturers longing for clarity,” Wells Fargo analysts wrote to clients.
A separate report from the Bureau of Labour Statistics showed job openings slid in February, showing that the labour market is gradually cooling. The Labour Department was due to release March's employment figures on Friday.
Markets entered the week facing a heightened degree of uncertainty over Mr Trump's self-imposed April 2 deadline on his tariff agenda. His much-delayed approach towards slapping levies on US trading partners has sent market sentiment plummeting, raised recession forecasts from the private sector and has muddied the outlook for the world's largest economy.
Mr Trump has so far given few details of his tariff plans, although the Wall Street Journal previously reported he could announce a flat 20 per cent tariff on most countries. The tariffs could also be more targeted.
White House press secretary Karoline Leavitt told reporters on Tuesday that Mr Trump had "made a decision" on his tariff plans. Mr Trump on Monday said the tariffs would be lower than what other countries are charging the US.
Nevertheless, the tariff saga has sparked renewed fears of a global trade war that could reignite inflation and slow economic growth in the US.
The EU, Canada and other trading partners are preparing to retaliate to Mr Trump's tariff decision.
The White House said the tariffs would immediately go into effect when he announces them.
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
The national orchestra
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
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Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Zayed Sustainability Prize
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
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Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
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Famine on the rise in the Middle East and North Africa
Inside the UN's Dubai aid facility delivering support to people in need across the globe
THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
COMPANY PROFILE
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The five pillars of Islam
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World Mental Health Day
Key developments
- Singapore summit: Trump and Kim launch charm offensive as meetings begin
- Donald Trump and Kim Jong-un shake hands ahead of one-on-one discussion
- US and North Korean teams sit down for bilateral summit
- Kim: “I believe this is a good prelude for peace."
- Trump: “We will solve it, we will be successful.”
All times UTC 4
Banned items
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Drones
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Animals
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Fireworks/ flares
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Radios or power banks
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Laser pointers
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Glass
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Selfie sticks/ umbrellas
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Sharp objects
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Political flags or banners
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Bikes, skateboards or scooters
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
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The%20specs
Transgender report
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ONCE UPON A TIME IN GAZA
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Directors: Tarzan and Arab Nasser
Rating: 4.5/5
OPINIONS ON PALESTINE & ISRAEL
Mohammed bin Zayed Majlis
Your rights as an employee
The government has taken an increasingly tough line against companies that fail to pay employees on time. Three years ago, the Cabinet passed a decree allowing the government to halt the granting of work permits to companies with wage backlogs.
The new measures passed by the Cabinet in 2016 were an update to the Wage Protection System, which is in place to track whether a company pays its employees on time or not.
If wages are 10 days late, the new measures kick in and the company is alerted it is in breach of labour rules. If wages remain unpaid for a total of 16 days, the authorities can cancel work permits, effectively shutting off operations. Fines of up to Dh5,000 per unpaid employee follow after 60 days.
Despite those measures, late payments remain an issue, particularly in the construction sector. Smaller contractors, such as electrical, plumbing and fit-out businesses, often blame the bigger companies that hire them for wages being late.
The authorities have urged employees to report their companies at the labour ministry or Tawafuq service centres — there are 15 in Abu Dhabi.
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
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The%20specs%3A%202024%20Panamera
DIVINE%20INTERVENTOIN
COMPANY%20PROFILE
On Women's Day
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Kibsons%20Cares
Joker: Folie a Deux
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Director: Todd Phillips
Rating: 2/5
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
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