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Euro buoyed by Ukraine ceasefire proposal, tariffs squeeze stocks

The euro was riding near five-month highs on Wednesday on Ukraine's readiness to accept a month-long ceasefire, while stocks whipsawed on back-and-forth U.S. tariff plans as levies on steel and aluminium imports kicked in. European equity futures jumped 1.1% and FTSE futures rose 0.5% on news the U.S. would restore military aid and intelligence sharing to Ukraine after Kyiv agreed to accept a U.S. ceasefire proposal. Russian Foreign Minister Sergei Lavrov said in an interview published on Wednesday, speaking in the context of a possible Ukraine peace deal, that Moscow will avoid compromises that would jeopardise people's lives, Russian agencies reported.

Gold Holds Gain as Markets Weigh Trade War, US Recession Risks

(Bloomberg) -- Gold held an advance, supported by haven demand after Wall Street was whipsawed by President Donald Trump’s on-off tariff plans and his latest comments downplaying fears of a recession.Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionWhere New York City's Zoning Reform Will Add HousingOpen Philanthropy Launches $120 Million Fund To Support Y