World stocks rose most on Tuesday, with financial markets shrugging and shrugging at tariff pressures from their trading partners.
In early European trade, Germany’s DAX rose 0.2% to 24,112.38. The UK’s FTSE 100 is 0.2% higher than 8,822.09. France’s CAC 40 decreased by 0.1% to 7,716.19.
Futures for the S&P 500 increased by 0.1%. futures Dow Jones The Jones industrial average dropped by 0.1%.
In Asia, Japan’s Nikkei 225 increased by 0.3% to 39,688.81, while South Korea’s Kospi soared by 1.8% to 3,114.95.
Hong Kong’s suspension index climbed 1.1% to 24,140.13, while Shanghai Comprehensive Materials rose 0.7% to 3,497.48. Australia’s S&P/ASX 200 fell to 8,590.70 from 0.1%.
Stocks on Wall Street were closed Monday as the White House increased pressure on major trading partners to reach a deal before punishing the U.S. tariffs imposed.
The S&P 500 has fallen 0.8% since mid-June. Last week, the benchmark index remained within its all-time high speed range.
Dow Jones Jones Industrial Average gives back 0.9%, while Nasdaq The composite material is still 0.9%, not far from its own record.
Losses are common. On the New York Stock Exchange, the number of rejecters exceeded nearly 4-1.
After the Trump administration Posted letters Japan and South Korea were informed that their goods would be taxed 25% on August 1, citing on the persistent trade imbalance with two crucial U.S. allies. U.S. President Donald Trump also announced new tariff rates in Malaysia, Kazakhstan, South Africa, Laos and Myanmar.
Just before the high tariffs on goods imported by nearly every country in the United States came into effect in April, Trump delayed taxes by 90 days, hoping foreign governments would be more willing to reach a new trade deal. That 90-day negotiation period is scheduled to expire on Wednesday.
In an article on social media platforms later Sunday, Trump also said that any country that is aligned with what he calls “anti-US policies of BRICS countries” will be subject to 10% tariffs. Member States of the BRICS countries include Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Ethiopia, Indonesia and Iran. Saudi Arabia has also been invited to join.
“Financial markets responded to news about U.S. tariffs,” Chris Turner, head of global markets at ING, wrote in a comment. “The current view is presumably that there are more transactions before the August 1 deadline.”
He said the stock market has recovered most of its initial losses, the bond market has gained little, and in FX, the Asian currencies have rebounded.
In other trading on Tuesday, benchmark U.S. crude lost 29 cents, or $67.64 a barrel. International standard Brent Intrude gave up 18 cents to $69.40.
The US dollar trades at 146.17, with a price ranging from 146.01 yen. The euro rose from $1.1714 to $1.1752.
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AP business writer Alex Veiga contributed to the report.
