Market Reactions: Trump's Tariff Plans and Wall Street's Response

Asian shares dipped amid concerns about Trump's tariff initiatives on Mexico, Canada, and China. Wall Street showed mixed reactions, with Treasury yields dropping due to speculation on Trump's economic policies. Retail sector performance was highlighted by Bath & Body Works' surprising profit jump and Macy's financial discrepancies.

Global markets experienced a shake-up on Tuesday following President-elect Donald Trump's announcement of potential sweeping tariffs on key trading partners. Specifically, Asian shares mostly declined amidst growing investor anxiety over economic repercussions.

In contrast, Wall Street's performance was buoyed by positive corporate returns and a shift in interest rate expectations. Notably, the S&P 500 neared record territories, with experts eyeing potential benefits from reduced Treasury yields.

Adding intrigue to consumer market dynamics, Bath & Body Works' surprising profit jump stole headlines, while Macy's faced scrutiny over internal financial discrepancies. These outcomes underscore challenges and opportunities facing retail amid broader economic shifts.

(With inputs from agencies.)