Global Markets Wobble as U.S. Tariffs Shake Investors
Asian shares tumbled Friday following U.S. implementation of steep tariffs on multiple trading partners, stirring investor anticipation for U.S. jobs data. As tariffs imposed by President Trump impacted market stability, futures and indices reacted modestly, while data raised inflation concerns, reducing chances of a Fed rate cut in September.
Global markets experienced a shake-up on Friday as steep U.S. tariffs took a toll on Asian shares. Investors are attentively awaiting U.S. jobs data, a critical factor in the Federal Reserve's decision on a potential rate cut next month.
President Donald Trump signed an executive order late Thursday, instituting tariffs ranging from 10% to 41% on U.S. imports from several nations, impacting partners like Canada and India. Despite the turbulence, some recent trade agreements have cushioned the blow, maintaining market optimism about potential renegotiations.
Indexes across Asia and futures in Europe and the U.S. registered declines, with specific hits taken by South Korea's KOSPI and Japan's Nikkei. Meanwhile, Apple's impressive revenue forecast bolstered its shares, contrasting Amazon's after-hours slump. Inflation data hinted at increasing price pressures, while stability in the jobs market leaves the Fed's future rate cut actions in question.
(With inputs from agencies.)
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