Advertisement
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.
U.S. Service Sector Growth Unexpectedly Slows In July
U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge
U.S. Trade Deficit Narrows Slightly More Than Expected In June
Eurozone Private Sector Continues To Expand
Bay Street May Open Slightly Higher
FTSE 100 Advances On Upbeat Earnings
Pound Rises As Traders Await BoE Monetary Policy Meeting
