Global stocks mixed as US tariff uncertainty lingers

Global stock markets diverged on Wednesday as investors remained cautious following conflicting signals from President Donald Trump about his coming wave of tariffs.

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New York's main indexes opened mixed while shares in Paris and Frankfurt dropped.

London edged up as data showed an unexpected slowdown to UK annual inflation.

With the White House's "Liberation Day" on April 2 fast approaching, investors are bracing for a wave of sweeping levies on imports amid warnings of crippled global trade, recession and a fresh spike in inflation.

But Trump has alternated between tough talk about imposing tariffs across the board to suggesting he may allow some carve-outs to spare US consumers the full brunt of their impact on prices.

"All the tariff talk uncertainty has led to a sharp drop in confidence," said David Morrison, analyst at Trade Nation.

"Recent survey data has painted a gloomy outlook for the US economy. But this pessimism has yet to show up in hard data, such as unemployment, while corporate earnings continue to beat expectations," Morrison added.