Global Shares Slide Amidst US-China Trade Tensions
Global shares mostly dropped on Thursday, driven by Wall Street's momentum hitting trade tension concerns with China. Asia's markets saw significant declines, especially in Japan. The focus remains on chip companies after news about potential severe US trade restrictions. Analysts blame currency fluctuations and US political influences for market instability.
![Global Shares Slide Amidst US-China Trade Tensions](https://devdiscourse.blob.core.windows.net/aiimagegallery/31_05_2024_08_21_48_8147509.png)
- Country:
- Japan
Global stock markets faced downward pressure on Thursday, with Tokyo's Nikkei 225 leading the decline, dropping more than 2%. This follows a record-breaking rally on Wall Street that came to a halt amidst rising trade tension concerns with China.
European markets saw mixed movements; France's CAC 40 fell slightly by less than 0.1%, Germany's DAX dipped nearly 0.2%, while Britain's FTSE 100 climbed 0.7%. US stock futures presented a mixed picture as well, with Dow futures falling almost 0.1% and S&P 500 futures rising nearly 0.2%.
Market attention was heavily focused on chip companies after a Bloomberg report suggested the US might impose stringent trade restrictions if companies like ASML and Tokyo Electron continue selling advanced semiconductor technology to China. The US has already restricted Chinese access to advanced chips, citing security risks, and urged allies to follow.
(With inputs from agencies.)