Market News
Gold soars, stocks sanguine as investors weigh Trump's latest tariff threat - REUTERS
Summary
- More Trump tariff announcements expected in coming days
- Fed Chair Powell to speak Tuesday
- Gold eyes $3,000 an ounce
- Oil bounces; BYD roils EV sector
SINGAPORE, Feb 11 (Reuters) - Gold shot to a record high, the dollar was firm and stocks were subdued on Tuesday as investors braced for further shifts in U.S. trade policy and waited to hear from Federal Reserve Chair Jerome Powell on tariffs and inflation.
Oil prices clung to a sharp bounce, with Brent crude futures above $76 a barrel. European equity futures were flat, as were FTSE futures while U.S. stock futures fell 0.2%.
Trump on Monday raised tariffs on steel and aluminium imports to 25%, pushing up share prices of U.S. steelmakers, and has promised to announce global reciprocal tariffs within days.
Yet he also said he was considering an exemption for Australia, after a call with Australia's Prime Minister - seemingly confirming investor assumptions that everything is negotiable.
