Global Markets Lower Amid Nervousness on Tariffs

By Dow Jones Newswires StaffEuropean markets followed Asia lower at the open, with investors nervous about the specifics of widespread U.S. tariffs expected to be set Wednesday.The Stoxx Europe 600 fell 1.3% in early trade in Europe, showing losses across sectors. Germany's DAX and France's CAC 40 were both down 1.2%, and the U.K.'s FTSE 100 dropped 1%.Asian stock markets ended lower, after stocks on Wall Street tumbled Friday. The Nikkei led the selloff, closing 4.0% lower, while the Kospi fell 3.0%. In China, ChiNext ended nearly 1.2% lower, while the Hang Seng Index in Hong Kong was down 1.1%.U.S. futures for the S&P 500 were down 0.7% and futures for the Dow Jones Industrial Average fell 0.5%.The dollar fell after President Trump said Sunday that reciprocal tariffs taking effect on Wednesday would start by targeting all countries. The DXY dollar index fell 0.2% to 103.851 after earlier hitting a one-and-a-half-week low of 103.765.Gold prices hit a fresh record, soaring to $3,158.20 a troy ounce as concerns over an escalating trade war and an uncertain geopolitical outlook boosted its safe-haven appeal.Eurozone and U.S. government bond yields fell ahead of key eurozone inflation data Monday and Tuesday. The 10-year German Bund yield fell about 5 basis points to trade at 2.684%, while the 10-year Treasury yield last dropped 6 basis points to 4.196%, according to Tradeweb.Bitcoin fell as worries over U.S. tariffs weigh on risky assets, declining 0.4% to $82,135 after hitting a near two-week low of $81,311 overnight, according to LSEG.Oil prices inched higher after President Trump threatened to impose secondary tariffs on buyers of Russian oil if the Kremlin prevents a deal to end the war in Ukraine. Brent crude and WTI were both up 0.1% to $72.85 and $69.40 a barrel, respectively.Write to Barcelona editors at [email protected]