ASIA/PACIFIC
Asian stock markets tumbled on Friday as investors reacted to U.S. President Donald Trump’s confirmation that a 25% tariff on Canadian and Mexican imports would take effect on March 4, while China faces an additional 10% tariff. Beijing responded, vowing to take “all necessary countermeasures” to defend its interests. The Shanghai Composite Index fell 2%, Hong Kong’s Hang Seng Index plunged 3.3%, and Japan’s Nikkei 225 Index dropped 2.9%. The Australian market also ended lower amid tech sector weakness and growing fears of a prolonged US-China tariff war.
EUROPE
European stocks closed slightly lower, with the pan-European Stoxx 600 Index down 0.1%. The Stoxx Technology Index was the worst performer, losing 1.7%, as Nvidia’s sell-off triggered a sector-wide decline. Investors analyzed a wave of earnings reports and economic data from across the region, while German inflation remained unchanged at 2.3% in February.
AMERICAS
U.S. stocks rallied as a closely followed inflation report showed that price pressures eased last month. The tech-heavy Nasdaq Composite and the S&P 500 each gained 1.6%, while the Dow Jones Industrial Average advanced 1.5%. Investors looked past President Donald Trump and Ukraine President Volodymyr Zelensky’s clash in the Oval Office, which raised concerns about heightened geopolitical risks. Zelensky and Trump traded verbal blows at the White House before the world’s media.
AFRICA
In Africa, South Africa’s Barloworld shareholders rejected a $1.25 billion bid from Saudi firm Zahid. Egyptian private equity firm Ezdehar plans to invest between $50 million and $100 million in 2025, targeting resilient businesses capable of navigating economic challenges, according to its founder Emad Barsoum.
MIDDLE EAST
In the Middle East, UAE-listed banks are expected to maintain their earnings growth momentum in 2025, supported by strong government backing, healthy capital reserves, and anticipated monetary policy tightening, according to consultancy firm Alvarez & Marsal (A&M).
COMMODITIES
GOLD
Gold prices fell as the U.S. dollar strengthened amid trade war concerns. Spot gold dropped 1% to $2,846.96 per ounce, while U.S. gold futures slipped 1.3% to $2,858.90 per ounce.
OIL
Oil prices also retreated as markets weighed Washington’s trade threats and Iraq’s decision to resume oil exports from the Kurdistan region. May Brent crude futures declined 1.12% to $73.21 per barrel, while U.S. West Texas Intermediate (WTI) crude lost 0.81%, settling at $69.78 per barrel.
