Global Markets:
- Asian Stock Markets : Nikkei up 0.18%, Shanghai Composite down 0.40%, Hang Seng down 0.79% ASX up 0.33%
- Commodities : Gold at $2906.35 (-0.33%), Silver at $31.85 (-1.08%), Brent Oil at $72.37 (0.25%), WTI Oil at $68.58 (0.18%)
- Rates : US 10-year yield at 4.283, UK 10-year yield at 4.5010, Germany 10-year yield at 2.4380
News & Data:
- (USD) Prelim GDP q/q 2.3% to 2.3% expected
- (USD) Unemployment Claims 242K to 222K expected
Markets Update:
Asia-Pacific markets fell on Friday after U.S. President Donald Trump confirmed that tariffs on imports from Mexico and Canada would take effect next week. Australia’s S&P/ASX 200 dropped 1.15%, while Japan’s Nikkei 225 and Topix lost 2.81% and 1.87%, respectively. South Korea’s Kospi declined 3.15%, with the small-cap Kosdaq falling 3.20%. In China, Hong Kong’s Hang Seng Index slipped 2.34%, and the mainland’s CSI 300 edged down 0.62%. Indian markets also traded lower, with the Nifty 50 dropping 0.99%.
Bitcoin extended its recent decline, falling 1.79% to $82,811.12, marking a nearly 25% drop from its record high in January. Meanwhile, U.S. stocks also ended in the red. The S&P 500 slid 1.59% to 5,861.57, remaining negative for the week and month. The Nasdaq Composite fell 2.78% to 18,544.42, dragged down by Nvidia’s 8.5% drop. The Dow Jones Industrial Average lost 193.62 points, or 0.45%, closing at 43,239.50.
On Thursday, Trump announced that the previously postponed 25% tariffs on Mexico and Canada would be implemented on March 4, citing insufficient action to curb drug trafficking across borders. He also confirmed that China, already facing 10% U.S. tariffs, would be hit with an additional 10% tariff on the same date. These developments have fueled concerns over escalating trade tensions.
Global markets remain under pressure as investors react to rising tariffs and economic uncertainty. The latest trade policies continue to weigh on sentiment, driving losses across major stock indexes worldwide.
Upcoming Events:
- 01:30 PM GMT – CAD GDP m/m
- 01:30 PM GMT – USD Core PCE Price Index m/m
