World stock markets open in the red on August 1st after the impact of Donald Trump's new tariffs on dozens of countries.
Global stock markets retreated on Friday after US President Donald Trump announced tariffs on dozens of trading partners ahead of his self-imposed deadline.
Just hours before a deadline he had given governments to reach agreements to avoid tariffs, the Republican tycoon signed an executive order on Thursday imposing higher tariffs on dozens of countries to, he says, restructure global trade to benefit the United States .
However, he granted a brief respite by stating that the measures will not take effect until next Friday.
For the countries targeted by these latest announcements, the measures range from 10% to 41%.
As a result , stock markets in Europe, Asia, and Oceania registered declines at the end of the week, as traders contemplate the impact of Trump's announcement on the global economy.
Follow below for minute-by-minute details on the opening and trading of stock markets around the world this Friday, August 1, following the U.S. president's latest tariff decision:
- Wall Street futures
Meanwhile, Wall Street futures, which closed in the red yesterday, are posting further losses, with the Dow Jones Industrial Average down 0.50%, the S&P 500 down 0.44%, and the Nasdaq down 0.51%.
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- European stock markets opened the first session of August in the red, falling by around 1%.
At the market open, all European stock markets recorded significant declines, with the largest declines in Paris (1.14%); Frankfurt (1.04%); the Euro Stoxx 50, which lists Europe's largest capitalization companies (1.01%); and Milan (0.83%).
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