European markets set to open mixed amid fresh U.S. tariff threats
Lucy North - Pa Images | Pa Images | Getty Images
Good morning from a very gray London.
Europe-listed shares look set for a mixed open today. Futures tied to the regional Stoxx 50 were last seen trading 0.1% higher, while those tied to London's FTSE 100 and the German DAX were last 0.2% lower and 0.2% higher, respectively.
Futures tied to France's CAC 40 are around 0.3% lower this morning.
— Chloe Taylor
U.S. President Donald Trump gestures, on the day he is expected to sign a sweeping spending and tax legislation, known as the "One Big Beautiful Bill Act," at the White House in Washington, D.C., U.S., July 4, 2025.
Ken Cedeno | Reuters
U.S. President Donald Trump has threatened an additional 10% tariff on countries that orient themselves along the "Anti-American policies of BRICS."
Trump's announcement, which did not elaborate on any specific policy of BRICS, came as the group's meeting is underway in Rio de Janeiro, Brazil.
The bloc's leaders took aim at Trump's sweeping tariff policies in a joint statement dated July 6, warning against "unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs."
Read more here.
— Anniek Bao
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Gov. Gavin Newsom Blames Trump For U.S. Regression During South Carolina Tour
California Gov. Gavin Newsom slammed President Donald Trump's attack on various human rights during a two-day tour in South Carolina. 'What we're experiencing is America in reverse,' Newsom said to attendees in Camden, South Carolina, one of eight stops during his tour, according to ABC News. 'They're trying to bring us back to a pre-1960s world on voting rights ― you know it well. Civil rights, LGBTQ rights, women's rights and not just access to abortion, but also access to simple reproductive care, contraception… It's a moment that few of us could have imagined.' At a stop in Bennettsville, Newsom said Trump's second administration so far has fostered 'an alarming six months,' according to CNN. 'It's not what happens to us, it's how we respond to it. And our opportunity presents itself anew. In 18 months, you have the power to end Donald Trump's presidency,' Newsom also said, CNN continued. The audience applauded him. 'We'll have to deal with the tweets, we'll have to deal with the attacks and the bullying. But the legislative agenda is effectively over,' Newsom added. 'You have that power in these midterms.' Newsom is a vocal critic of Trump, so it's not new that he publicly denounced him. However, Newsom's decision to conduct a two-day tour speaking with voters across the country is somewhat unusual. Multiple outlets, including CNN and The Associated Press, have reported that the move adds credence to rumors that Newsom will pursue the 2028 Democratic presidential nomination. 'I think it's really important for Democrats that we spend time in parts of our states, parts of our country, that frankly, we haven't spent enough time in, and so that's why I'm here,' Newsom explained Tuesday at a stop in Florence, according to The Associated Press. Newsom's tour also comes as Trump apparently attacked him without naming him, according to CNN. At the White House on Tuesday, Trump referred to Newsom as 'one of the worst governors in our country, who I used to get along with, actually.' 'If we didn't step in, Los Angeles would have been burned to the ground,' Trump continued. Newsom's visit has prompted other Republicans to speak out against him. 'Gavin Newsom in South Carolina today is like a kale salad at a Waffle House — confused, unwelcome, and about to get sent back,' Republican Rep. Russell Fry (S.C.) said on X. 'Gavin Newsom is bringing his Crazy California agenda to Trump Country. It's up to us to show him what real leadership looks like,' the South Carolina GOP reportedly said in an email to supporters listing Newsom's full itinerary, according to Fox News. 'Gavin Newsom turned California into a case study in government overreach and liberal failure. We don't need Gavin Newsom's twisted version of America in the Palmetto State,' South Carolina Attorney General Alan Wilson, who is running for governor as a Republican in 2026, said among a series of Newsom-centered posts on X. 'If Gavin Newsom wants to test his national message here, he'll be met by a united conservative front that knows exactly what's at stake.' Newsom's office and the White House, respectively, did not immediately respond to HuffPost's request for comment. Trump Says He's 'Looking At' Federal Takeover Of Washington, DC Gavin Newsom Hits Fox News With $787 Million Defamation Lawsuit Gavin Newsom Brutally Mocks Trump's 'This Is Not Good' Understatement
Bloomberg
13 minutes ago
- Bloomberg
Indian Stock Market Braces for Volatile Session After Fresh Copper, Pharma Tariffs
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian stocks are set for a choppy session this morning. President Donald Trump's hints at new tariffs on copper and pharma imports, plus a possible 10% levy on BRICS nations, are making investors jittery. To top it off, Asian shares are already trading lower. Meanwhile, there's buzz about possible new curbs on derivatives trading, which could impact stock brokers and BSE's shares.
Business Insider
17 minutes ago
- Business Insider
Stock Market News Review: SPY, QQQ Stumble as Trump Announces New Tariffs, Pressures Powell to Resign
The S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) whipsawed between positive and negative territory several times on Tuesday. SPY closed in the red while QQQ was able to pull through in the green. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The market took a turn lower after President Trump announced that more countries would soon receive letters detailing their updated tariff rates. He also said that the August 1 tariff pause deadline would not be extended. So far, the U.S. has sent letters to 14 countries. Trump is also considering a steep tariff on copper imports. 'I believe the tariff on copper, we're going to make it 50%,' said Trump during a Cabinet meeting. Afterward, copper futures surged higher by 17%, marking the highest intraday rise in 37 years. Commerce Secretary Howard Lutnick added that the tariff could be implemented either later this month or on August 1. If 50% wasn't high enough, Trump announced that he may tariff pharmaceutical imports at a 200% rate. 'They're going to be tariffed at a very, very high rate, like 200%,' warned Trump. The tariffs would begin in a year to a year and a half in order to give pharmaceutical companies time to set up shop in the U.S. In addition, Trump also has plans for tariffs on semiconductors and other goods. In a Truth Social post, Trump criticized Fed Chair Jerome Powell for 'whining like a baby about non-existent Inflation for months, and refusing to do the right thing.' Trump added that import prices have fallen lower, citing a study from the Council of Economic Advisers (CEA). Earlier in the day, Trump said that Powell ' should resign immediately.' He also said that he wouldn't be opposed to Congress investigating Powell over the Fed's $2.5 billion Washington, D.C. headquarters renovation. To end on an optimistic note, Goldman Sachs (GS) raised its 2025 SPX price target to 6,600 from 6,100. Bank of America (BAC) tagged along and hiked its target to 6,300 from 5,600. The S&P 500 (SPX) closed with a 0.07% loss while the Nasdaq 100 (NDX) inched higher by 0.07%.
