Global Markets Wobble as Trump’s Tariff Deadline Draws Near

Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s July 9 tariff deadline loomed, even as U.S. equities continued their record-breaking surge, according to The Independent. The threat of steep import taxes cast a shadow over investor confidence, particularly in Europe and Asia, while Wall Street basked in the glow of a robust U.S. jobs report. The prospect of trade disruptions has left markets on edge, with fears that tariffs could upend global supply chains and economic growth.

In Europe, early trading reflected the cautious mood, with Germany’s DAX sliding 0.8% to 23,730.61 and France’s CAC 40 dropping 1.1% to 7,666.91. The UK’s FTSE 100 also dipped, falling 0.4% to 8,790.21. Futures for the S&P 500 and Dow Jones Industrial Average signaled further unease, each declining 0.5%. In Asia, Japan’s Nikkei 225 managed to reverse early losses, edging up 0.1% to 39,810.88, while South Korea’s KOSPI plummeted 2% to 3,054.28. Hong Kong’s Hang Seng fell 0.6% to 23,916.06, though China’s Shanghai Composite eked out a 0.3% gain to 3,472.32. Australia’s S&P/ASX 200 rose slightly by 0.1% to 8,603.00, while India’s Sensex slipped 0.1% to 83,148.45.

The looming tariffs, set to take effect next week unless trade agreements are reached, have heightened market volatility. Reports suggest that some countries could receive formal tariff notices as early as Friday, prompting warnings to brace for turbulence. Social media posts on X captured the jittery sentiment, with one user likening Asian markets to “a wary traveler in a dark alley,” reflecting fears over the economic fallout from Trump’s trade policies. Despite the global unease, U.S. markets remained buoyant after Thursday’s stronger-than-expected jobs report, which propelled the S&P 500 up 0.8% to its fourth record high in five days. The Dow Jones Industrial Average gained 344 points, or 0.8%, while the Nasdaq composite rose 1%.

Elsewhere, oil prices weakened, with U.S. benchmark crude falling 45 cents to $66.55 per barrel and Brent crude, the international standard, dropping 53 cents to $68.27 per barrel. In currency markets, the U.S. dollar weakened to 144.34 Japanese yen from 144.92 yen, while the euro edged up to $1.1773 from $1.1761. As the tariff deadline approaches, investors worldwide remain on high alert, balancing optimism from U.S. economic strength against the looming threat of trade disruptions.