Global markets mostly declined on Friday, despite U.S. stocks reaching new record highs, as investors remained cautious ahead of President Donald Trump’s tariff deadline on July 9.
In early European trading, Germany’s DAX dropped 0.8% to 23,730.61, France’s CAC 40 fell 1.1% to 7,666.91, and the UK’s FTSE 100 slipped 0.4% to 8,790.21. Futures for both the S&P 500 and Dow Jones Industrial Average were down 0.5%.
In Asia, Japan’s Nikkei 225 recovered from early losses, rising 0.1% to 39,810.88, while South Korea’s KOSPI index declined 2% to 3,054.28. Hong Kong’s Hang Seng index decreased by 0.6% to 23,916.06, whereas China’s Shanghai Composite added 0.3% to 3,472.32. Australia’s S&P/ASX 200 edged up 0.1% to 8,603.00, and India’s Sensex dipped 0.1% to 83,148.45.
Stephen Innes, managing partner at SPI Asset Management, described Asian markets as cautious, saying they entered Friday “like someone entering a dark alley with one eye over their shoulder.” He attributed this to anxiety over the looming tariff deadline, which is causing unease despite the U.S. stock rally.
Mizuho Bank Ltd. warned that countries may begin receiving official tariff notification letters from the U.S. as early as Friday, signaling a period of increased market volatility ahead.
Following a stronger-than-expected U.S. jobs report on Thursday, the S&P 500 rose 0.8%, setting an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points (0.8%), and the Nasdaq Composite gained 1%.
Currently, many of the proposed U.S. import tariffs remain on hold but are set to be implemented next week unless agreements are reached with trading partners to reduce them.
In commodities, U.S. crude oil prices fell 45 cents to $66.55 per barrel, while Brent crude dropped 53 cents to $68.27 per barrel. The U.S. dollar weakened against the Japanese yen, falling from 144.92 to 144.34 yen, while the euro edged up slightly to $1.1773 from $1.1761.
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Global stocks mostly decline ahead of Trump’s tariff deadline, as US markets hit new highs
