World Shares Mostly Down While U.S. Stocks Set Records

Global stock markets mostly fell on Friday, even as U.S. stocks continued to reach record highs ahead of President Donald Trump’s July 9 tariff deadline, Teresa Cerojano reported for the Associated Press (AP).

There is a familiar, twitchy unease every time Trump gets near the tariff trigger. I Photo: New York Stock Exchange Facebook

In early European trading, Germany’s DAX shed 0.8% to 23,730.61, while France’s CAC 40 dropped 1.1% to 7,666.91. Britain’s FTSE 100 declined 0.4% to 8,790.21. Futures for the S&P 500 and Dow Jones Industrial Average were both 0.5% lower.

In Asia, Japan’s Nikkei 225 rebounded to gain 0.1% to 39,810.88. South Korea’s KOSPI fell 2% to 3,054.28.

Hong Kong’s Hang Seng Index dropped 0.6% to 23,916.06, while China’s Shanghai Composite rose 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.

“Asian markets slipped into Friday like someone entering a dark alley with one eye over their shoulder—because while U.S. equities danced higher on a sweet-spotted post-payroll sugar rush, the mood in Asia was far less celebratory,” wrote Stephen Innes, managing partner at SPI Asset Management.

“The reason? That familiar, twitchy unease every time Trump gets near the tariff trigger,” he added.

Mizuho Bank Ltd. noted that some countries may begin receiving tariff notification letters from Trump as early as Friday and warned that markets should brace for volatility.

On Thursday, after a report showed a stronger U.S. job market, the S&P 500 rose 0.8%, setting an all-time high for the fourth time in five days. The Dow Jones Industrial Average climbed 344 points (0.8%), and the Nasdaq Composite gained 1%.