Global Markets Hold Steady Amid Tariff Uncertainty
Global stocks were stable as investors absorbed new U.S. tariffs, particularly affecting Japan and South Korea. Discussions for trade agreements continued, especially between the U.S. and the EU, as Goldman Sachs offered optimistic forecasts. Southeast Asia sought concessions while global economic growth concerns loomed over market stability.
Global stock markets remained mostly unchanged on Tuesday, as investors processed the latest developments in U.S. President Donald Trump's tariffs, impacting Japan and South Korea. A slight easing in the yen followed the announcement of planned duties on Japanese imports.
The market response was cautious rather than severe, unlike reactions to Trump's expansive tariff rollouts three months earlier. Europe seemed more hopeful, with sources suggesting the EU might bypass additional tariffs as it edges closer to securing a trade deal with the United States by Wednesday.
Across the Atlantic, Wall Street's S&P 500 steadied after an initial downturn, as Goldman Sachs increased its positive forecasts based on anticipated U.S. rate cuts. Southeast Asia, likewise, sought trade concessions, with regional markets experiencing modest gains. Still, Trump's erratic policymaking style leaves global economic stability hanging in the balance.
(With inputs from agencies.)
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