Trump’s Tariffs Shake Asian Markets, Gold Reaches Record High
Asian markets saw mixed performances on Tuesday as investors reacted to Donald Trump’s approval of tariffs on steel and aluminium imports, with expectations of further trade restrictions. Hong Kong, Shanghai, Singapore, and Mumbai recorded losses, while Seoul, Bangkok, and Taipei gained. Market uncertainty pushed gold prices to a record $2,942, as investors sought safe-haven assets. Analysts warned that expanding trade actions could trigger import restrictions and retaliatory measures, increasing volatility. Concerns over inflation and Federal Reserve policy strengthened the U.S. dollar, with traders awaiting key inflation data and Fed Chair Jerome Powell’s testimony for insights on interest rates. Key Market Moves: Gold hits record $2,942 Hong Kong stocks down 0.6% Brent Crude up 0.6% at $76.29 per barrel Dow Jones up 0.4% at 44,470.41 FTSE 100 up 0.8% at 8,767.80
