ASIA/PACIFIC
Asian stocks ended mostly lower on Tuesday as fresh U.S. tariffs came into effect, triggering China’s retaliation with additional 10-15% duties on key agricultural imports such as soybeans, corn, dairy, and beef. Hong Kong’s Hang Seng Index slipped 0.3%, Japan’s Nikkei 225 Index tumbled 1.2%. South Korea’s Kospi index ended the day 0.15% lower. The Australian stock market also traded in the red on risk-off sentiment.
EUROPE
European markets suffered sharp losses, with investors bracing for the global impact of the new U.S. tariffs on Mexico, Canada, and China, alongside retaliatory measures. The Stoxx 600 plunged 2.2% while the Stoxx 600 basket of automotive stocks — a sector particularly vulnerable to trade restrictions— fell 5.7%.
AMERICAS
Wall Street closed lower as markets reacted to new U.S. tariffs on Canada and Mexico and a 20% duty on Chinese imports. Beijing’s countermeasures escalated fears of a global trade standoff, adding to investor uncertainty. The Dow Jones Industrial Average fell 1.6%, the S&P 500 declined 1.2%, while the Nasdaq Composite decreased by 0.4%. The implementation of U.S. tariffs has introduced significant uncertainty in both Canadian and Latin American markets, leading to increased volatility and concerns about economic growth in these regions.
AFRICA
Egypt’s banking sector saw a remarkable $37.8 billion surge in net foreign assets (NFA) over the past year, rebounding from a record low of -$29 billion in January 2024 to $8.7 billion in January 2025.
Meanwhile, Egypt’s Ministry of Finance announced plans to issue 32 treasury bill (T-bill) and bond auctions in March, totaling EGP 730 billion, as part of efforts to refinance debt and bridge the state budget deficit.
MIDDLE EAST
Gulf stock markets declined as Saudi Aramco’s earnings disappointed investors. The oil giant reported a net profit of $106.2 billion in 2024, down from $121.3 billion in 2023. Dividend payouts are set to drop to $85.4 billion in 2025, down from $124.2 billion in 2024 and $98 billion in 2023.
COMMODITIES
GOLD
Gold prices climbed amid safe-haven demand and a weaker dollar, fueled by rising trade tensions. Spot gold rose 0.7% to $2,914 an ounce. U.S. gold futures gained 0.8%, reaching $2,925.1 an ounce.
OIL
Crude prices fell after reports suggested OPEC+ plans to increase production in April. Brent crude dropped 1% to $70.87 per barrel (as of 1:03 p.m. EST). West Texas Intermediate (WTI) crude declined 0.4%, settling at $68.09 per barrel.
