Global shares mixed amid investor worries after Wall Street tumble
TOKYO (AP) — Global shares were trading mixed Tuesday amid global skepticism about U.S. investments and President Donald Trump’s trade war.
France’s CAC 40 dipped 0.8% in early trading to 7,225.85, while the German DAX declined 0.4% to 21,119.56. Britain’s FTSE 100 added 0.2% to 8,295.82. U.S. futures were set to drift higher with Dow futures up 0.8% at 38,647.00. S&P 500 futures rose 0.9% to 5,231.50.
Trading was cautious in Asia, where the benchmark Nikkei 225 lost 0.2% to finish at 34,220.60. Australia’s S&P/ASX 200 was virtually unchanged, inching down less than 0.1% to 7,816.70. South Korea’s Kospi lost nearly 0.1% to 2,486.64. Hong Kong’s Hang Seng added nearly 0.8% to 21,562.32, while the Shanghai Composite added 0.3% to 3,299.76.
Trump’s tariffs and the retaliatory measures from China hang as a shadow over the region.
“Across Asia, there is undoubtedly a sense of urgency to get to the negotiation table even as striking a deal at an appropriate cost can be tough,” said Tan Boon Heng, at Mizuho Bank’s Asia & Oceania Treasury Department.
“China’s warning to countries not to resolve U.S. tariffs by striking deals at the expense of Beijing’s interests reveals the geo-economic polarization.”
Wall Street tumbled on Monday partly because of Trump’s attacks against Jerome Powell, the chair of the U.S. Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy. Trump called Powell “a major loser” and said that energy and grocery prices are “substantially lower.”
On Friday, a top White House adviser said the administration is studying whether it can fire Powell, a move that would undermine the Fed’s independence and likely send shock waves through global financial markets.
In energy trading, benchmark U.S. crude gained 97 cents to $64.05 a barrel. Brent crude, the international standard, rose $1.00 to $67.21 a barrel.
In currency trading, the U.S. dollar edged down to 140.42 Japanese yen from 140.80 yen. The dollar has been weakening lately against the yen, and traded momentarily as low as 139 yen levels during the day. The euro cost $1.1509, down from $1.1514.
By YURI KAGEYAMA
AP Business Writer
