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European Shares Seen Lower At Open
(RTTNews) - European stocks may drift lower at open on Tuesday as investors watch the latest developments on the trade front.
U.S. stock futures traded higher after Monday's steep sell-off. Asian stocks were broadly lower amid concerns that U.S. President Trump's policies will boost inflation and push the world's largest economy into a recession.
Mainland China and Hong Kong markets held steady despite escalating U.S.-China trade tensions.
The dollar index headed for a fourth day of losses as tariff negotiations showed little progress and fears of a U.S. recession mounted.
Gold extended a blistering rally, surging nearly 2 percent to a record around $3,500 per pounce on haven demand.
Oil steadied after slumping over 2 percent on Monday amid concerns about U.S. tariffs, Fed policy uncertainty and signs of progress in U.S.-Iran talks.
U.S. stocks fell sharply overnight, and the dollar hit a three-year low as President Donald Trump intensified his attacks on Federal Reserve Chair Jerome Powell and warned there can be a slowing of the economy unless "Mr. Too Late, a major loser, lowers interest rates, NOW." he wrote.
Trump's warning to trade partners against what he calls 'non-tariff cheating' and China's retaliation threat against countries that follow U.S. calls to isolate Beijing also added to investor woes.
The Dow slumped 2.5 percent, the tech-heavy Nasdaq Composite plunged 2.6 percent and the S&P 500 plummeted 2.4 percent.
Most European markets were closed on Monday in honour of Easter Monday.
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