Global shares are mixed after Wall Street briefly dips more than 10% below its record
TOKYO (AP) — Global shares were mixed on Wednesday as investors weighed the impact of President Donald Trump’s tariffs after another day of losses on Wall Street.
U.S. futures and oil prices were higher.
France’s CAC 40 edged up 0.9% in early trading to 8,014.58. Germany’s DAX jumped 1.5% to 22,644.81, while Britain’s FTSE 100 added 0.5% to 8,542.24. U.S. shares were set to drift higher with Dow futures up nearly 0.1% at 41,510.00. S&P 500 futures rose 0.6% to 5,610.00.
Trump’s escalation in his trade war is rattling global markets. Trump has upped his tariffs against Canadian steel and aluminum, prompting the Canadian province of Ontario to remove a surcharge that had enraged him.
Japan’s benchmark Nikkei 225 finished little changed, gaining less than 0.1% to 36,819.09.
Hong Kong’s Hang Seng lost 0.9% to 23,566.42, while the Shanghai Composite edged down 0.2% to 3,371.92.
Australia’s S&P/ASX 200 dropped 1.3% to 7,786.20. South Korea’s Kospi added 1.5% to 2,574.82.
Stocks drooped on uncertainty about how much pain Trump is willing for the economy to endure in order to get what he wants.
“Trump’s tariff policies continue to have a destabilizing effect on markets, with investors left guessing as to which measures will either be added or walked back next,” said Tim Waterer, chief market analyst at KCM Trade.
Moves by Trump and comments by the White House on Tuesday didn’t clarify much. White House press secretary Karoline Leavitt said, “The president will look out for Wall Street and for Main Street.”
The recent swings followed more warning signals flashing about the economy as Trump’s on -and- off -again rollout of tariffs creates confusion and pessimism for U.S. households and businesses.
Such tariffs can hurt the economy directly by raising prices for U.S. consumers and gumming up global trade. But even if they end up being milder than feared, all the whipsaw moves could leave U.S. companies and consumers unwilling to invest or spend.
In energy trading, benchmark U.S. crude added 34 cents to $66.59 a barrel. Brent crude, the international standard, rose 31 cents to $69.87 a barrel.
In currency trading, the U.S. dollar rose to 148.50 Japanese yen from 147.78 yen. The euro cost $1.0921, inching up from $1.0919.
___
AP Business Writer Stan Choe contributed to this report.
By YURI KAGEYAMA
AP Business Writer
