European benchmarks slide while Asia finishes mixed as uncertainty
persists over Trump's plans
[April 24, 2025] By
YURI KAGEYAMA
TOKYO (AP) — Global shares traded mixed Thursday, as worries crept back
following a Wall Street rally that came after President Donald Trump
appeared to back off his criticism of the Federal Reserve and his tough
talk in his trade war.
France's CAC 40 slipped 0.9% in early trading to 7,412.26, while the
German DAX shed early 1.0% to 21,755.04. Britain's FTSE 100 fell 0.3% to
8,375.06. U.S. shares were set to drift lower with Dow futures declining
nearly 0.9% at 39,433.00. S&P 500 futures fell 0.8% to 5,359.25.
Japan's benchmark Nikkei 225 added 0.5% to finish at 35,039.15.
Australia's S&P/ASX 200 rose 0.6% to 7,968.20. South Korea's Kospi lost
0.1% to 2,522.33. Hong Kong's Hang Seng declined 0.7% to 21,909.76,
while the Shanghai Composite was little changed, inching up less than
0.1% to 3,297.29.
Calling Trump's policy announcements “headline turbulence,” Tan Jing Yi
of the Asia & Oceania Treasury Department at Mizuho Bank warned that
global economies could be hurt in the long run, adding, “Sentiments
swing from hopes of intense relief to inflicted economic gloom.”
Much of the recent market volatility is because of uncertainty about
what Trump will do with his economic policies. Adding to some relief was
Trump saying late Tuesday that he has “no intention” to fire the head of
the Federal Reserve.
Trump’s tough talk had frightened investors because the Fed is supposed
to act independently, without pressure from politicians, so that it can
make decisions that may be painful in the short term but are best for
the long term.
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Specialists Mark Fitzgerald, left, and John Parisi confer on the
floor of the New York Stock Exchange, Wednesday, April 23, 2025. (AP
Photo/Richard Drew)
 While a cut to interest rates by the
Fed could give the economy a boost, it could also put upward
pressure on inflation. Trump also said U.S. tariffs on imports
coming from China could come down “substantially” from the current
145%.
“It won’t be that high, not going to be that high,” he said.
Investors are hoping Trump would lower his tariffs after negotiating
trade deals with other countries. Trump said this week that he would
be “very nice” to the world’s second-largest economy and not play
hardball with Chinese President Xi Jinping.
“There is an opportunity for a big deal here,” U.S. Treasury
Secretary Scott Bessent said Wednesday.
In energy trading, benchmark U.S. crude rose 55 cents to $62.82 a
barrel. Brent crude, the international standard, added 56 cents to
$66.68 a barrel.
In currency trading, the U.S. dollar slipped to 142.67 Japanese yen
from 143.15 yen. The euro cost $1.1375, up from $1.1322.
___
AP Business Writer Stan Choe contributed.
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