Arizona Tribune - Stock markets struggle as Trump tariffs target EU

Hong Kong went above 24,000 points for the first time since 2022, thanks to another outstanding performance by Chinese tech giants.

But traders soon took their cash off the table and the market ended in the red, scenes mirrored elsewhere in Asia.

Europe was a similar story awaiting Wall Street's reopening.

"As concerns swirls about the latest tariff threats emanating from the White House... caution remains the name of the game amid a murky outlook for the global economy," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

Trump warned Wednesday that he would hit the European Union with 25 percent tariffs.

However, he caused some confusion over the timing and extent of other measures announced against Canada and Mexico, with analysts saying there was still some debate on whether he would delay implementation or water down his plans.

The threat against Europe came after Trump went back on the offensive over trade and signed a memo last weekend calling for curbs on Chinese investments in industries including technology and critical infrastructure, healthcare and energy.

Thursday saw some big share price movements among major companies.

While the Tokyo exchange closed higher, 7-Eleven owner Seven & i tumbled 11 percent after the convenience store giant said its founding family had failed to put together a white-knight buyout.

The firm rejected an offer last year worth nearly $40 billion from Canadian rival Alimentation Couche-Tard, which would have been the biggest foreign buyout of a Japanese firm.

In London, engine maker Rolls-Royce surged 19 percent while advertising giant WPP slumped 15 percent as traders reacted to earnings updates from the pair.

There was no spark from earnings at Nvidia, seen as a bellwether for the artificial intelligence revolution, despite the firm reporting record revenue for the fourth quarter.

- Key figures around 1100 GMT -

London - FTSE 100: UP 0.2 percent at 8,752.49 points

Paris - CAC 40: DOWN 0.2 percent at 8,124.49

Frankfurt - DAX: DOWN 0.8 percent at 22,611.12

Tokyo - Nikkei 225: UP 0.3 percent at 38,256.17 (close)

Hong Kong - Hang Seng Index: DOWN 0.3 percent at 23,718.29 (close)

Shanghai - Composite: UP 0.2 percent at 3,388.06 (close)

New York - Dow: DOWN 0.4 percent at 43,433.12 (close)

Euro/dollar: UP at $1.0485 from $1.0480 on Wednesday

Pound/dollar: UP at $1.2685 from $1.2672

Dollar/yen: UP at 149.80 from 149.13 yen

Euro/pound: DOWN at 82.66 pence from 82.70 pence

Brent North Sea Crude: UP 0.9 percent at $73.20 per barrel

West Texas Intermediate: UP 0.9 percent at $69.24 per barrel

P.Hernandez--AT