US Stock Futures Decline as Gold Reaches New High – Europe Market Wrap
US equities were set to fall slightly from their recent record highs as concerns over trade tariffs impacted on morale. Gold achieved a new all-time high.
Contracts for the S&P 500 and Nasdaq 100 fell by roughly 0.2%. Palantir was one of the worst losers in US premarket trade, on course to extend Wednesday’s 10% drop, after Defence Secretary Hegseth announced intentions to decrease military spending by 8% over the next few years.
Market fears have been fuelled in recent days by Trump’s vows to expand tariff measures to a wide range of industries, as well as his apparent withdrawal of support for Ukraine and its European allies. Geopolitical uncertainties pushed gold prices past $2,954 per ounce, setting a new high.
The Dollar and Treasury yields fell after the Fed’s minutes indicated that policymakers had considered suspending or delaying their balance-sheet runoff. The Yen rose by about 1%, exceeding 150 per Dollar, on speculation that the BoJ1 may hike interest rates sooner rather than later.
