In Bangkok (AP) – Market shares in Europe and Asia fell on Friday, with major indices in Japan, Hong Kong, and South Korea declining by more than 2%. This came as U.S. President Donald Trump’s decision to proceed with 25% tariffs on imports from Mexico and Canada, along with doubling tariffs on Chinese goods to 20%, left investors in shock.
Germany’s DAX dropped 0.4% to 22,458.23, while the CAC 40 in Paris and Britain’s FTSE 100 also saw decreases. However, U.S. futures showed gains, with the S&P 500 and Dow Jones Industrial Average contracts up 0.3%.
In Asian markets, Tokyo’s Nikkei 225 fell 2.9%, driven down by declining prices of technology company shares. Hong Kong’s Hang Seng and Shanghai Composite indices also saw losses.
Trump confirmed on Thursday that the proposed tariffs on imports from Canada, Mexico, and China would take effect as scheduled. China’s Commerce Ministry criticized the decision to raise tariffs on Chinese imports, stating that it violated international trade rules and would burden American companies and consumers.
Stock markets in South Korea and Australia also experienced declines. On Thursday, major U.S. indices, such as the S&P 500, Dow, and Nasdaq, recorded losses due to concerns over the economic outlook, inflation worries, and potential layoffs.
Nvidia, a prominent tech company, saw an initial rise followed by an 8.5% drop in its stock price despite positive earnings reports. The ongoing tariff discussions have increased economic uncertainty, impacting consumer confidence and potentially influencing Federal Reserve policy decisions.
While the U.S. economy remains stable for now, recent reports show mixed signals with steady growth but rising inflation. Oil prices also declined in early Friday trading.
The international standard, crude, saw an increase of 66 cents to $72.91 per barrel. The U.S. dollar strengthened to 150.44 Japanese yen from 149.82 yen late Thursday. Similarly, the euro also gained ground, rising to $1.0402 from $1.0401.
