European stocks tanked on Friday, with auto-makers hit especially hard, after U.S. President Donald Trump widened the scope of his trade wars by threatening to impose new tariffs on Mexican imports. The markets finished broadly lower with shares in Germany leading the regionThe pan-Europe STOXX 600 fell 0.81% on the day. Germany’s trade-sensitive DAX fell 1.47% to an about five-month closing low. French stocks slid 0.79%, matching their London peers by 0.78%.
Rising trade tensions sent stocks and bond yields around the world skidding Friday, capping a brutal month for markets that caused the Dow industrials to notch their longest losing streak in nearly eight years.Major U.S. stock indexes lost more than 1% on Friday and closed the month of May down more than 6.5%, their worst monthly performance since December. The Dow Jones Industrial Average dropped 354.84 points, or 1.41%, to 24,815.04. The S&P 500 index Sfell 36.80 points, or 1.32%, to 2,752.06 and the Nasdaq Composite dropped 114.57 points, or 1.51%, to 7,453.15.
Oil prices fell sharply Friday to their lowest levels in more than three months, as concerns about President Trump’s trade policy and the slowdown in the Chinese economy cast doubt on the outlook for global demand. West Texas Light, sweet crude for July delivery fell 5.5% to $53.50 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, declined 3.6% to $64.49.
Global equities tumbled and safe-haven sovereign bonds surged Friday after U.S. President Donald Trump’s unexpected threat of tariffs on Mexican goods added to fears that escalating trade wars will push the U.S. and other major economies into recession.
Asian markets finished broadly lower. Chinese manufacturing activity for May came in below expectations.
European stocks closed sharply lower .
U.S. stock indexes lost more than 1%.
Oil prices fell drastically to a near three-month low on fears a global economic slowdown
U.S Goverment Debt Yeields added to steep May declines on Friday
Gold climbed to a seven-week high on Friday
In currency markets, the dollar suffered the biggest one day fall against a basket of currencies. The euro also fell sharply against the Japanese yen.
Stocks in Asia are poised to decline on toda the first trading day of June amid ratcheting concerns over the state of global trade. Futures pointed to a lower open for Japan and Australian stocks.
Stocks in Asia closed mixed on today amid increasing concerns over the state of global trade. The Nikkei 225 is down 0.92% while China's Shanghai Composite is off 0.30% and Hong Kong's Hang Seng is lower by 0.03%. The ASX 200 is off 1.19%. Wgere as the Kospi is up.1.28%.
European stocks are trading lower on today morning, as fears over the current state of global trade intensified, causing international markets to stumble. The pan-European Stoxx 600 dropped 0.70% in early trade. The FTSE 100 is down 0.93% while France's CAC 40 is off 0.74% and Germany's DAX is lower by 0.53%.
U.S. stock futures and commodity prices slipped while bonds rallied on Monday on worries an intensifying Sino-U.S. trade tussle and Washington’s new tariff threats against Mexico could tip the global economy into a recession. At around 04:34 a.m. ET, Dow futures slipped 154 points, indicating a negative open of more than 156 points. Futures on theS&P and Nasdaq were both seen lower 15.00 and 51.75 points resectively.
Oil prices fell by around 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. Front-month Brent crude futures were at $60.95 at 09.00 GMT. That was $1.04 , or 1.68%, below Friday's close. U.S. West Texas Intermediate (WTI) crude futures were at $52.92 per barrel, down 58cents, or 1.02%, from their last settlement.