The market awaits the implementation of tariffs! European stocks opened lower, the dollar remained flat, and gold maintained high levels

Wallstreetcn
2025.04.02 08:11
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As Trump is about to announce a new round of tariff policies, global markets are showing caution. On April 2, major European stock indices opened lower, with risk aversion rising and gold prices maintaining a high of $3,124 per ounce. Goldman Sachs believes that the yen is the best currency hedge against the risk of a U.S. economic recession. Barclays analysts point out that the real risk lies in the economic fundamentals, rather than the tariff policies themselves

As former President Trump is about to announce a new round of tariff policies early this morning, global markets are showing caution.

On Wednesday, April 2, market risk aversion intensified, with the European Stoxx 600 index opening lower, U.S. stock index futures remaining stable, the U.S. dollar showing little change against major currencies, and gold prices maintaining historical highs.

  • Major European stock indices opened lower, with the German DAX30 index down 0.51%, the UK FTSE 100 index down 0.36%, the French CAC40 index down 0.17%, and the European Stoxx 50 index down 0.53%.
  • S&P 500 index futures fell 0.2%, Nasdaq 100 index futures fell 0.3%, and Dow Jones Industrial Average futures fell 0.1%.
  • The Nikkei 225 index closed down 0.3%, and the Tokyo Stock Exchange index closed down 0.4%. The Seoul Composite Index closed down 0.6%.
  • The U.S. dollar spot index showed little change. The euro against the dollar saw a daily volatility increase of 804 basis points to 16.63%, the highest level since March 6.
  • The 10-year U.S. Treasury yield showed little change at 4.16%.
  • Brent crude oil fell 0.4% to $74.24 per barrel.
  • Spot gold maintained a high of $3,124 per ounce.

In this tense atmosphere, investors are seeking effective hedging strategies. Goldman Sachs stated that the yen provides the best currency hedge option for investors amid increasing risks of a U.S. economic recession. The group's strategists expect the yen to appreciate against the dollar to a low of 140 as trade tariffs enhance demand for the safest assets this year.

Barclays analyst Anshul Gupta believes that the real risk may lie in the economic fundamentals rather than the tariff policies themselves, leading investors to be more concerned about inflation and employment conditions.

The 10-year U.S. Treasury yield showed little change at 4.16%.

Spot gold maintained a high of $3,124 per ounce.

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