Global Markets Today: Asian markets opened on a lower note on Friday, mirroring Wall Street’s overnight losses as concerns over the banking sector and rising trade tensions deepened.
In the US, shares of regional lenders and investment bank Jefferies slumped on Thursday amid worries about potential bad loans.
Australia’s S&P/ASX 200 fell 0.36 per cent at the open, while Japan’s Nikkei 225 slipped 1 per cent and the broader Topix index dropped 0.75 per cent. South Korea’s Kospi edged down 0.48 per cent, with the Kosdaq easing 0.13 per cent.
Meanwhile, futures for Hong Kong’s Hang Seng Index stood at 25,862 — slightly below the previous close of 25,888.51.
US stock market today
Wall Street ended lower on Thursday as weakness in regional banks unsettled investors already anxious about escalating U.S.-China trade tensions.
The S&P 500 fell 0.63 per cent to close at 6,629.07, the Nasdaq slipped 0.47 per cent to 22,562.54, and the Dow Jones Industrial Average dropped 0.65 per cent to 45,952.24.
After hitting record highs recently, investors remained alert to developments between Washington and Beijing following last week’s intensification of their trade conflict.
U.S. President Donald Trump has warned of imposing 100 per cent tariffs on Chinese goods starting November 1, along with additional trade measures, in response to China’s restrictions on rare earth exports.
Despite these tensions, enthusiasm surrounding artificial intelligence and expectations of U.S. interest rate cuts have pushed Wall Street to record levels this year. The S&P 500 is up 12 per cent in 2025 and is currently trading at 23 times projected earnings — its highest valuation in five years, according to LSEG.
(With inputs from agencies)
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