Global stocks rose on Tuesday as investors awaited details of US President Donald Trump’s reciprocal tariffs. Gold hit a record high at $3,148.88 per ounce, while bond yields fell and the Japanese yen held firm. The Australian dollar rebounded after the Reserve Bank of Australia left interest rates steady.
Investors are waiting for April 2, dubbed “Liberation Day”, when Trump is expected to unveil his reciprocal tariff plan. The Office of the US Trade Representative released a report on foreign trade barriers, but its impact on Trump’s plans remains unclear.
European stocks rallied, recovering from profit-taking in assets vulnerable to US tariffs. Analysts say uncertainty is high and investors are pricing in a slowdown in growth and earnings. Gold powers ahead due to general risk aversion and concerns over the dollar’s special reserve status.
Treasuries sent yields lower, keeping the dollar in check, while the euro narrowly fell against it. Oil prices edged up, extending Monday’s 2% rally. Bitcoin rose 2%. The Reserve Bank of Australia warned of pronounced global uncertainty due to US tariffs.
The situation is closely watched by investors, who are awaiting clarity on Trump’s tariff plans.
Source: https://www.reuters.com/markets/global-markets-wrapup-1-2025-04-01