Here we go again! While America kicks back and celebrates Independence Day, European stock indexes are sliding down like a rollercoaster with no brakes. Frankfurt, London, Paris, and even Moscow are all seeing drops between 0.2% and 0.7%, while US markets are closed for the holiday. But wait, there’s more – investors are sweating over the fallout from a new comprehensive US tax and tariff law. Yes, you read that right, a 10% tariff is looming to spoil the global party.
Frankfurt’s DAX fell by 0.22%, London’s FTSE by 0.27%, and France’s CAC 40 by a whopping 0.70%. Moscow isn’t immune either, with MOEX slipping 0.63%. What about the US indexes? Dow Jones actually rose 0.77%, S&P 500 climbed 0.83%, and Nasdaq jumped 1.02%, but that was before the markets closed.
European gas futures for August are steady at 33 euros per megawatt-hour, crude oil prices nudged up to $66, while Brent crude slipped to $66. Gold gained $3.79 per ounce, and wheat dropped $5 per bushel. The euro is slightly stronger against the dollar, but nothing spectacular.
So, while America enjoys fireworks, Europe wrestles with falling indexes and trade uncertainty. Will the 10% tariffs become the new normal or just another bump on the road to global stability? Only time will tell. What do you think – is this the start of a new stock market drama or just a short pause before the next jump? Drop your thoughts, let’s see who’s the optimist and who’s the pessimist!
