Back to today’s briefing

Story perspectives

Wall Street Dips as Trade Deficit Hits Record High

5/7/2025

48 10

Summary

Story summary

Wall Street opened lower, with the Dow down 273 points (0.66%) and Nasdaq down 160 points (0.9%).
Fitch forecasts a Canadian recession, predicting a GDP decline over three quarters and unemployment exceeding 8%.
The UK and India finalized a free trade deal, reducing tariffs and potentially boosting trade by £25.5bn by 2040.
The U.S. trade deficit reached a record $140.5bn in March, fueled by a 4.4% rise in imports.

1 of 1

Story summary

Wall Street opened lower, with the Dow down 273 points (0.66%) and Nasdaq down 160 points (0.9%).
Fitch forecasts a Canadian recession, predicting a GDP decline over three quarters and unemployment exceeding 8%.
The UK and India finalized a free trade deal, reducing tariffs and potentially boosting trade by £25.5bn by 2040.
The U.S. trade deficit reached a record $140.5bn in March, fueled by a 4.4% rise in imports.