By Esther Ososanya
Global markets gained on Wednesday as investors shrugged off U.S. President Donald Trump’s latest tariff threats, including a 50% levy on imported copper and potential 200% duties on pharmaceuticals.
European Stocks and U.S. Futures Climb
London’s FTSE 100 rose 0.2%, while the pan-European STOXX 600 gained 0.8%. Wall Street futures also pointed to a rebound, with S&P 500 and Nasdaq futures both up 0.1%, following a dip in U.S. stocks on Tuesday.
Trump’s remarks initially sent copper prices soaring, with U.S. copper futures jumping more than 10% to an all-time high. The dollar index held steady at 97.567, while the euro slipped 0.1% to $1.1714. The dollar also hit a two-week high against the yen, reflecting Japan’s lagging progress in trade talks with Washington.
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Investors Watch for Tariff Fallout, Fed Signals
Markets remain cautious ahead of further developments in Trump’s widening trade war. On Monday, he warned 14 nations of steep new tariffs starting August 1. He also said a tariff notice to the European Union was likely within days.
The EU is struggling to secure relief and stability in ongoing trade negotiations. The European Parliament’s trade committee, leading talks with the U.S., confirmed uncertainty remains high.
Investors are closely watching the Federal Reserve’s meeting minutes, expected later Wednesday, for clues on how the tariff-driven volatility could shape interest rate policy.
“We’re really in the dark when it comes to tariffs,” said Amelie Derambure, senior portfolio manager at Amundi. “The uncertainty is immense.”
Bond Yields and Oil Inch Up, Gold Slips
U.S. Treasury yields rose Tuesday, though the 10-year yield edged down to 4.4072% early Wednesday after hitting a three-week high of 4.435%. Demand was weak in a recent three-year Treasury auction, with further sales of 10- and 30-year bonds scheduled this week.
In Europe, bond yields were largely flat, with Germany’s 10-year yield at 2.637%.
Gold prices continued to decline, down 0.3% to $3,290 per ounce. Meanwhile, Brent crude edged up 0.4% to $70.42, reflecting cautious optimism in commodity markets.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.