Trump to Meet with US CEOs as Global Stock Selloff Declines – Europe Market Wrap
Global equities recovered after a selloff, and US stock futures pointed to a Wall Street rally, following reports that Trump would meet with top business executives later in the day.
Contracts for the Nasdaq 100 surged 0.5% following the index’s worst drop since 2022, while those for the S&P 500 increased 0.4%. Tesla shares rebounded in premarket trade following Monday’s 15% drop, as other technology firms, including Nvidia, pushed higher. In Europe, the Stoxx 600 index remained stable, while Asian equities recovered from an intraday five-week low.
Other risk assets saw some comfort as well, with Bitcoin stabilising following a five-day selloff and oil prices recovering slightly from Monday’s decline. However, fears over the US economy’s once-unstoppable resilience continue to support Treasury markets, with 10-year rates falling further on Tuesday. The Dollar index declined 0.3%.
In currency markets, the Euro was the biggest gainer, rising 0.6% as German lawmakers are anticipated to strike an agreement on more spending. Gold prices dropped, but remained above $2,900 per ounce.
