Stocks waver, dollar slips as Trump’s tariff deadline nears

Stocks waver, dollar falls as Trump tariff deadline approaches

Stocks wavered as Trump’s July 9 tariff deadline loomed, with Asian and European markets under pressure. The dollar slipped despite strong U.S. jobs data, while trade uncertainty kept investors cautious.

Stocks waver, dollar falls as Trump tariff deadline approaches

Asian markets were mostly weaker on Friday, with European stocks also poised for a soft open, despite Wall Street’s record highs. Investors are cautious as Trump’s July 9 deadline for trade deals approaches, which could trigger higher tariffs.

The dollar dipped slightly after Thursday’s gains, with U.S. markets closed for Independence Day. Traders are weighing the impact of a new $3.4 trillion spending bill set to be signed by Trump.

U.S. futures slipped 0.3%, while European STOXX 50 futures dropped 0.5%.

 

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Trump said the U.S. will notify countries on Friday about potential tariff hikes, signaling a shift from earlier promises of negotiated deals.

Japan’s Nikkei edged up 0.1%, while South Korea’s KOSPI tumbled 1.8%. Hong Kong’s Hang Seng fell 0.4%, though mainland Chinese stocks rose 0.7%.

Strong U.S. jobs data boosted optimism about the economy, but trade remains the key focus. Trump hinted at possible deals with Vietnam, China, and the UK, but talks with Japan and South Korea have stalled.

The dollar initially rallied on the jobs report but later softened, slipping against the yen and Swiss franc. Gold rose 0.4%, while oil prices dipped slightly.

 

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