
Concerns Over Trade War Cause US Stock Futures to Decline – Europe Market Wrap
US stock futures fell, signalling a third day of losses for the S&P 500, as investors fretted about the economic consequences of tariffs. The Dollar fell, while bond yields soared.
S&P 500 futures slipped 0.2%, as European equities sank. The movements were rather mild, given China’s measured response to US tariffs and a last-minute respite for Canada and Mexico. Nonetheless, the Dollar index fell 0.3% as some traders expressed satisfaction that the worst-case situation appeared to be avoided.
Europe’s Stoxx 600 index moved amid a flurry of mixed company earnings. With companies accounting for almost a fourth of Europe’s market capitalisation reporting by Monday, a net 11% outperformed on earnings and 55% on sales, according to Morgan Stanley. Still, Trump’s suggestion that the Eurozone could be next in line for tariffs has markets on edge.
Crude oil prices fell due to a weaker demand forecast. Gold was near a record high.