Global Markets Dip As Trump's Tariff Threats Rattle Investors
Reuters reported that Wall Street and European futures slipped in Asian trading after Trump announced plans to impose 30% tariffs on most imports from the European Union (EU) and Mexico starting Aug 1, escalating trade tensions. While the EU vowed to seek a negotiated settlement, Germany's finance minister called for retaliation if tariffs proceed.
Despite the tough talk, market reaction remained measured. The MSCI Asia-Pacific Index (ex-Japan) dipped 0.1%, while Japan's Nikkei was flat. Chinese blue chips rose 0.2%, buoyed by stronger-than-expected export growth of 5.8% in June, even as exports to the US declined nearly 10%.
In Europe, EUROSTOXX 50 futures fell 0.6%, DAX futures dropped 0.7% and FTSE futures held steady. In the US, S&P 500 and Nasdaq futures each eased 0.4%, ahead of a busy earnings week led by major banks. Corporate profits for S&P 500 firms are now expected to grow 5.8% year-over-year, down from April's 10.2% forecast.
Investors are bracing for a volatile week, balancing geopolitical risks with a flood of corporate earnings and crucial US economic data, including June inflation and retail sales figures. Related
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Rakyat Post
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Malay Mail
an hour ago
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