<![CDATA[EL PAÍS]]>https://english.elpais.comMon, 20 Apr 2026 12:34:21 +0000en1hourly1<![CDATA[The dollar’s decline, a financial reflection of Trump’s chaotic policy and a double-edged electoral weapon]]>https://english.elpais.com/economy-and-business/2026-02-02/the-dollars-decline-a-financial-reflection-of-trumps-chaotic-policy-and-a-double-edged-electoral-weapon.htmlhttps://english.elpais.com/economy-and-business/2026-02-02/the-dollars-decline-a-financial-reflection-of-trumps-chaotic-policy-and-a-double-edged-electoral-weapon.htmlMon, 02 Feb 2026 17:11:23 +0000A few dozen German and French soldiers flying toward the Greenland ice sheet is not, at first glance, the image of a pivotal moment for Western Europe, much less the kind of event capable of moving the endless roulette wheel of the markets or impacting the U.S. economy. But the financial world takes note of almost everything. The fall of the dollar, which has lost a fifth of its value against the euro since 2025, is the most tangible reflection of how money, through a series of shocks, has adapted to a world—that of Donald Trump—where the old rules no longer apply. Conversely, the Republican’s decision to nominate Kevin Warsh to chair the Fed is yet another sign that the White House regards Wall Street with respect.

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]]>Charlie Neibergall<![CDATA[Why Trump isn’t worried about a weaker dollar as markets (and the ECB) grow uneasy]]>https://english.elpais.com/economy-and-business/2026-01-29/why-trump-isnt-worried-about-a-weaker-dollar-as-markets-and-the-ecb-grow-uneasy.htmlhttps://english.elpais.com/economy-and-business/2026-01-29/why-trump-isnt-worried-about-a-weaker-dollar-as-markets-and-the-ecb-grow-uneasy.htmlThu, 29 Jan 2026 19:19:32 +0000The tectonic ruptures in geopolitics triggered by Donald Trump are reverberating in the currency market, just as they did nine months ago with the trade war. This week, the dollar hit 1.20 per euro, making trips to the United States, bourbon, and Fender electric guitars cheaper. The abrupt trend — a drop of nearly 3% in just a few days — looks set to continue, as it has little or nothing to do with the economic cycle: it is the financial world’s response to the global order proposed by the U.S. president, whose first commandment (or second, depending on the day) is to limit risk.

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]]>YURI GRIPAS / POOL<![CDATA[Dollar slump shows no signs of ending: Analysts foresee more drops as traders move to protect portfolios]]>https://english.elpais.com/economy-and-business/2026-01-28/dollar-slump-shows-no-signs-of-ending-analysts-foresee-more-drops-as-traders-move-to-protect-portfolios.htmlhttps://english.elpais.com/economy-and-business/2026-01-28/dollar-slump-shows-no-signs-of-ending-analysts-foresee-more-drops-as-traders-move-to-protect-portfolios.htmlWed, 28 Jan 2026 15:55:50 +0000The picture of U.S. strength promoted by Trump, with flashy images and lofty statements, contrasts with weakness in the financial markets. While the tech frenzy is still driving the stock market, investors are focusing on keeping their portfolios safe from the White House’s capricious actions.

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]]>Dado Ruvic<![CDATA[The Fed’s complex dilemma: Balancing Trump’s attacks, bond market doubts and the ghosts of 2007]]>https://english.elpais.com/economy-and-business/2025-08-30/the-feds-complex-dilemma-balancing-trumps-attacks-bond-market-doubts-and-the-ghosts-of-2007.htmlhttps://english.elpais.com/economy-and-business/2025-08-30/the-feds-complex-dilemma-balancing-trumps-attacks-bond-market-doubts-and-the-ghosts-of-2007.htmlSat, 30 Aug 2025 04:00:00 +0000The dismissal — pending an imminent legal battle — of Federal Reserve Governor Lisa Cook has called into question the sacrosanct independence of the U.S. central bank from a White House that is all but obsessed with cutting interest rates.

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]]>Natalie Behring<![CDATA[The tariff bomb wipes out $10 trillion in stock market value, half of the EU’s entire GDP]]>https://english.elpais.com/economy-and-business/2025-04-08/the-tariff-bomb-wipes-out-10-trillion-in-stock-market-value-half-of-the-eus-entire-gdp.htmlhttps://english.elpais.com/economy-and-business/2025-04-08/the-tariff-bomb-wipes-out-10-trillion-in-stock-market-value-half-of-the-eus-entire-gdp.htmlTue, 08 Apr 2025 08:21:29 +0000The destruction of value caused by Donald Trump’s tariffs is historic in the equity markets. The loss of market capitalization worldwide has reached $10 trillion (€9.2 trillion), according to Bloomberg. That is a figure equivalent to just over half of the GDP of the European Union. For part of Monday’s session, the S&P 500 index, the benchmark for the U.S. stock market, accumulated three consecutive drops of 4% for the first time since the Great Depression. The session-by-session collapse was also the largest since the Black Monday crisis of 1987, surpassing the losses recorded during the outbreak of the Covid pandemic (13% in three sessions), the bankruptcy of Lehman Brothers (13.9%), or the losses of 1998 (11.7%). In 1987, the U.S. stock market plummeted 26% over the course of three days.

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]]>Julia Demaree Nikhinson<![CDATA[How Trump’s tariffs are affecting the market: The stampede that wiped $5 trillion off Wall Street]]>https://english.elpais.com/economy-and-business/2025-04-07/how-trumps-tariffs-are-affecting-the-market-the-stampede-that-wiped-5-trillion-off-wall-street.htmlhttps://english.elpais.com/economy-and-business/2025-04-07/how-trumps-tariffs-are-affecting-the-market-the-stampede-that-wiped-5-trillion-off-wall-street.htmlMon, 07 Apr 2025 08:29:54 +0000The global economic landscape was turned upside down on Wednesday. The pivotal moment of the inaccurately-called “reciprocal tariffs” didn’t come with a formal announcement, but rather when Donald Trump, after a 30-minute speech outside the White House, unveiled a poster listing the tariffs he would impose on imports from around the world (including uninhabited islands).

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]]>Brendan McDermid<![CDATA[Trump backtracks on doubling tariffs on aluminum and steel to 50% for Canada]]>https://english.elpais.com/economy-and-business/2025-03-11/trump-hits-back-against-canada-by-doubling-tariffs-on-aluminum-and-steel-to-50.htmlhttps://english.elpais.com/economy-and-business/2025-03-11/trump-hits-back-against-canada-by-doubling-tariffs-on-aluminum-and-steel-to-50.htmlTue, 11 Mar 2025 21:59:58 +0000The tariff war between the United States and Canada flared up again on Tuesday when U.S. President Donald Trump threatened to impose a 50% tariff on Canadian aluminum and steel imports, doubling his previous threat of 25%, starting on Wednesday March 12. The decision was taken in response to the announcement on Monday that the Canadian province of Ontario was adding a 25% percent surcharge to the electricity it exports to Michigan, Minnesota and New York. Markets plummeted on Monday amid fears of a U.S. recession caused by the White House’s aggressive and volatile trade policy. It was the worst day of the year for stocks. A few hours later, the extra tariffs were dropped. And in return, Canada agreed to eliminate its own surcharge on the export of electricity.

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]]>CJ Gunther<![CDATA[DeepSeek changes the narrative in the middle of the gold rush]]>https://english.elpais.com/economy-and-business/2025-01-29/deepseek-changes-the-narrative-in-the-middle-of-the-gold-rush.htmlhttps://english.elpais.com/economy-and-business/2025-01-29/deepseek-changes-the-narrative-in-the-middle-of-the-gold-rush.htmlWed, 29 Jan 2025 11:37:58 +0000Financial markets are the largest and most complex incentive system ever devised by humankind. Sometimes brutally efficient, sometimes brutally dysfunctional, and almost always a bit of both. Ever since OpenAI launched the first version of ChatGPT on November 30, 2022, and the whole world watched as a machine appeared to think (though it’s more like searching and drafting), the financial music has been played in one key: artificial intelligence, the next promised land of finance, the technology that will (supposedly) change the world. Like the steam engine, the internet or computing. Who would want to stay on the sidelines?

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]]>BRENDAN MCDERMID<![CDATA[Banking panics, social media and history repeating itself]]>https://english.elpais.com/economy-and-business/2024-02-23/banking-panics-social-media-and-history-repeating-itself.htmlhttps://english.elpais.com/economy-and-business/2024-02-23/banking-panics-social-media-and-history-repeating-itself.htmlFri, 23 Feb 2024 21:09:49 +0000In a few days it will be the one-year anniversary of the collapse of Silicon Valley Bank, probably the fastest collapse of a financial institution in history. On March 8, 2023, the bank announced that it was $1.8 billion in the red when it sold a large part of its public debt portfolio at a loss. At the same time, it announced a capital increase of $2.2 billion to strengthen the bank’s balance sheet, although the loss amounted to barely 1% of the bank’s assets.

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]]>LEAH MILLIS<![CDATA[The energy transition, $100 oil and a geopolitical chess match]]>https://english.elpais.com/economy-and-business/2023-09-29/the-energy-transition-100-oil-and-a-geopolitical-chess-match.htmlhttps://english.elpais.com/economy-and-business/2023-09-29/the-energy-transition-100-oil-and-a-geopolitical-chess-match.htmlFri, 29 Sep 2023 22:09:00 +0000The economy is fraught with headaches. The pandemic has ended. The problems Western Europe faced due to gas shortages in the winter of 2022-2023 have been contained. Now, stubborn inflation persists because of oil prices. It is not the Russian invasion of Ukraine that has raised oil prices, but the OPEC production cuts, led and expanded by Vladimir Putin and Mohamed bin-Salman.

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]]>Peter Bennett<![CDATA[The AI black box, the perfect boost for a market at a standstill]]>https://english.elpais.com/economy-and-business/2023-06-01/the-ai-black-box-the-perfect-boost-for-a-market-at-a-standstill.htmlhttps://english.elpais.com/economy-and-business/2023-06-01/the-ai-black-box-the-perfect-boost-for-a-market-at-a-standstill.htmlThu, 01 Jun 2023 18:23:41 +0000The fluency with which ChatGPT writes texts or answers a particular question can be unsettling or exciting, depending on the individual. Its impact in the media in the last four months has transcended the boundaries of technology; few recent developments have so altered economic, labor and social expectations.

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]]><![CDATA[Apple puts pressure on US banking sector by offering higher rate of return ]]>https://english.elpais.com/economy-and-business/2023-04-27/apple-puts-pressure-on-us-banking-sector-by-offering-higher-rate-of-return.htmlhttps://english.elpais.com/economy-and-business/2023-04-27/apple-puts-pressure-on-us-banking-sector-by-offering-higher-rate-of-return.htmlThu, 27 Apr 2023 23:52:49 +0000Apple has launched a savings account offering a 4.15% interest rate – four times the average annual return of an American account. The technology giant launched this offer when the markets still haven’t recovered from the turmoil caused by the collapse of Silicon Valley Bank. This puts even more pressure on the legacy financial sector in the United States, with nervous clients looking to withdraw their money and place it elsewhere at the slightest hint of instability – and at any sign of a better deal.

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