Global Markets React as Trump Intensifies Tariff Threats
U.S. and European stock futures dropped after President Trump announced increased tariffs on Canada and Europe. The decision disrupted markets, affected currencies, and intensified trade tensions. Wall Street adjusted mildly, anticipating upcoming earnings reports to assess the trade war's impact on businesses.
U.S. and European stock futures experienced a decline in Asia on Friday as President Donald Trump intensified tariff threats against Europe and Canada. This move quashed an early rise in regional stock markets.
The dollar appreciated against the euro and Canadian dollar following Trump's announcement of a 35% tariff on Canadian imports starting August 1, alongside a planned 15% or 20% blanket tariff on other countries. As Trump's tariff policies disrupt businesses and policy formulations globally, the European Union waits for further communication.
Nasdaq and S&P 500 futures each fell roughly 0.4%, while EUROSTOXX 50 futures dropped by 0.6%. The euro saw a 0.3% slip to $1.1668, with the dollar gaining 0.4% to C$1.3704. Investors are prepping for upcoming earnings reports and assessing the broader impact of these trade relationships.
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