Global stock markets fell on Thursday as U.S. President Donald Trump reignited trade tensions ahead of a key July 9 deadline for tariff negotiations.
A broad gauge of Asian equities declined 0.3%, with South Korean shares leading losses at 1.6%. The pullback came as Trump signaled that his administration could begin sending letters to trading partners as soon as Friday to set unilateral tariff rates.
U.S. and European equity-index futures both dropped 0.3% in early trading, reflecting investor caution.
Gold prices climbed 0.5% as investors sought safe-haven assets, while the U.S. dollar weakened by 0.2%. Cash trading in U.S. Treasuries was closed due to the Independence Day holiday.
Despite this week’s rally that pushed stocks to record highs—largely driven by easing fears of a recession—investors are now holding back amid the renewed tariff threats.
The uncertainty comes just as the U.S. reported stronger-than-expected jobs growth, effectively reducing market bets on a possible interest rate cut in July.
