Global Markets Tumble Amid US Tariff Deadline and Key Economic Meetings
Global markets dipped as investors withdrew from high-value stocks ahead of crucial economic events, including U.S. trade deadlines and key central bank meetings. Tariff threats and strong U.S. economic data influenced market dynamics. U.S. government bonds remained stable, while tech earnings reports and international trade agreements shaped investor sentiment.
Investors pulled back from high-value global stocks on Friday as they braced for a pivotal market week marked by Donald Trump's tariff deadline and pivotal central bank meetings. MSCI's global equity index slipped 0.2% in early European trading, following Japan's Topix index's slight drop after a record high on Thursday.
European stocks also experienced a downturn. The STOXX 600 index dropped 0.5%, ahead of the U.S. trade deal deadline with Europe and China. Investors awaited Federal Reserve rate cuts due to the risk of tariffs. UBS Wealth Management economist Dean Turner noted, 'Higher U.S. inflation will eventually reduce demand and investment.'
U.S. Treasury rates remained steady, with careful monitoring of next week's Federal Reserve meeting and major tech earnings reports. Meanwhile, pressures over fiscal stimulus grew in Japan following political shifts, and gold slightly declined while crude futures rose.
(With inputs from agencies.)
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