Global stock markets advance ahead of Trump tariff deadline

Investors are bracing for a fresh onslaught of tariffs on Donald Trump’s Liberation Day’ due on Wednesday, expected to see him impose levies on all countries

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Asian and European stock markets advanced on Tuesday, clawing back some of the recent hefty losses as traders hoped for greater clarity ahead of impending US tariffs.

An sign of market uncertainty, safe-haven gold reached a fresh record high of $3,149 an ounce.

Investors are bracing for a fresh onslaught of tariffs on US President Donald Trump’s “Liberation Day,” due Wednesday, expected to see him impose levies on “all countries.”

“Markets are hoping for a clean decision, that allows traders to move on from tariffs,” said Kathleen Brooks, research director at trading group, XTB.

“Hopes are that a recovery rally could take hold if Trump’s tariff announcements are seen as the final move from the White House in its trade war,” she added.

But she warned that “the downside risk for stocks could emerge once more if Trump suggests that even more tariffs could be coming down the line”.

Trump said Monday he would be “very kind” when he unveils the tariffs.

But what he lacks on details on who will be hit with what kind of market ungerase and fears of a recession in the world’s largest economy.

In Europe, Paris and Frankfurt extended the morning’s gains after data showed inflation in the eurozone slowed closer toward the European Central Bank’s two-percent target.

London also rose, even as Prime Minister Keir Starmer said Britain is likely to suffer from US tariffs and despite making progress over a post-Brexit trade deal.