Mount Fuji and the Shinjuku skyline in Tokyo, Japan, on Friday, Feb. 14, 2025. Photographer: Kiyoshi Ota/Bloomberg through Getty Photographs
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Gold jumped to a file excessive as Asia-Pacific markets slid Wednesday, with traders searching for secure havens after U.S. President Donald Trump threatened recent tariffs on international locations resisting the switch of Greenland to the US.
Spot gold costs rose over 1% to an all-time excessive of $4,813 per ounce.
Hong Kong’s Cling Seng index was 0.12% decrease, whereas the mainland’s CSI 300 inched 0.11% larger.
Japan’s Nikkei 225 misplaced 1.28%, whereas the Topix declined 1.09%. South Korea’s Kospi was 1.09% decrease whereas the small-cap Kosdaq fell 2.2%.
Australia’s S&P/ASX 200 fell 0.34%.
Trump mentioned Saturday that exports from eight European international locations would face tariffs of 10% from Feb. 1, rising to 25% by June 1 if talks fail to ship U.S. management of mineral-rich Greenland.
He additionally threatened to slap 200% tariffs on French wine and champagne, following studies that President Emmanuel Macron was unwilling to affix his proposed “Board of Peace.” Trump additional criticized the U.Ok., calling its plan to switch sovereignty of the Chagos Islands, which is dwelling to a joint U.Ok.-U.S. navy base, to Mauritius an “act of nice stupidity,” citing the transfer as additional justification for buying Greenland on nationwide safety grounds.
European leaders have labeled President Donald Trump’s newest tariff threats “unacceptable” and are reportedly weighing retaliatory measures. France is alleged to be urging the European Union to deploy its strongest financial response instrument, the so-called Anti-Coercion Instrument.
U.S. inventory futures rose barely in early Asian hours after main averages noticed their worst day in three months.
In a single day within the U.S., the Dow Jones Industrial Common shed 870.74 factors, or 1.76%, to finish the session at 48,488.59. The S&P 500 dipped 2.06% to settle at 6,796.86. The Nasdaq Composite slid 2.39%, closing at 22,954.32. It was the worst session since October for all three main averages. U.S. Treasury yields spiked and the U.S. greenback declined as Trump’s risk triggered a flight from U.S. property.
