Global stocks regained some ground on Tuesday after three days of turmoil unleashed by Donald Trump’s tariffs.
European stocks rose in morning trading, following Asian markets higher in a partial recovery after three days of market rout.
The region-wide Stoxx Europe 600 was up 1.6 per cent by mid-morning. The FTSE 100 gained 1.9 per cent. Germany’s Dax was up 1.3 per cent.
Futures contracts tracking the S&P 500 and Nasdaq Composite indices were up 1.4 per cent and 1.2 per cent, respectively. The indices closed near flat on Monday after steep falls last week following Trump’s “liberation day” announcement of sweeping new tariffs.
In Asian markets, Japan’s Topix closed 6.3 per cent higher after Tokyo and Washington agreed to hold trade talks. Mainland China’s CSI 300 index rose 1.7 per cent and India’s Nifty 50 index was up 1.8 per cent. Hong Kong’s Hang Seng index gained 1.5 per cent.
In currency markets, the US dollar gained 0.1 per cent against a basket of trading partners. Sterling was flat at $1.27, while the euro edged up 0.1 per cent to $1.09.
Haven currencies, including the Swiss franc and yen, also strengthened against the dollar. Gold was up 0.7 per cent at $3,004 an ounce, after falling from $3,133 at Wednesday’s close.
