Global Markets Steady Amid Trade Tension Drama

Global stocks tumbled on Friday but are set to achieve a weekly gain alongside the most significant monthly increase since late 2023, amid the turbulence caused by the Trump administration's tariff policies. Sentiments were lifted early in the week by eased trade tensions between the U.S. and Europe, particularly after President Trump postponed planned EU tariffs.

Attention briefly turned to Nvidia, the AI chipmaker, which announced far better-than-expected earnings mid-week. However, markets faced renewed disruption after the U.S. Court of International Trade ruled against Trump's Liberation Day tariffs, prompting a judicial saga with an appellate court reinstating them temporarily.

U.S. indices traded lower as technology, energy, and materials stocks weakened, though they are poised for weekly and monthly gains. Meanwhile, European and Asia-Pacific markets reported gains, with MSCI's world index marking the biggest monthly rise since November 2023. The dollar rose, while oil and gold prices declined slightly amid investor caution.

(With inputs from agencies.)