Global Markets Stirred: Trump's Tariff Gambit Impacts Stocks, Currency, and Commodities
Global stocks and key currencies wavered after President Trump intensified trade tariffs, particularly impacting Canada and Europe. His unexpected tariff hikes have unsettled markets, prompting movements in safe-haven assets like gold and causing bitcoin to reach a new peak. Investors await U.S. corporate earnings for further insights.
Global stocks took a hit on Friday, following U.S. President Donald Trump's heightened tariff stance against Canada, which now faces a 35% duty on imports. European markets also braced for impact, while safe havens like gold saw modest gains, reflecting investor caution.
The President's sweeping tariffs, now potentially up to 20% on multiple nations, have stirred market volatility, notably affecting sectors like copper and semiconductors. However, significant market reactions remain subdued as stakeholders await more definitive economic data.
Despite the tumult, U.S. Stock indices recorded highs, buoyed by corporate giants like Nvidia. Concurrently, gold climbed and the dollar fluctuated against global currencies. Analysts anticipate further market shifts as companies begin reporting second-quarter earnings next week.
(With inputs from agencies.)
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