Tariff Tensions Thwart Global Stock Rally

Global stocks cooled after an initial surge driven by Trump's $500 billion AI infrastructure plan, impacting European and Asian markets. U.S. stocks hit record highs despite tariff threats from Trump aimed at China, Mexico, Canada, and Europe. Markets remain cautious amid upcoming economic events and earnings announcements.

Global stocks eased on Thursday, pulling back from a rally initially fueled by U.S. President Donald Trump's ambitious $500 billion plan for artificial intelligence infrastructure. The excitement waned, especially in technology shares in Europe, following previous gains driven by the announcement of a joint venture involving Oracle, OpenAI, and SoftBank.

While Chinese stocks benefited from government support, gaining over 1% before settling up 0.18%, the global market momentum faded without further details on Trump's tariff plans. The dollar hovered near two-week lows, and Wall Street sustained its gains from a record high the previous day as market participants overlooked uncertainties regarding tariffs.

In volatile currency markets, the dollar index lingered at 108.26 amid weak tariffs-driven sentiment. Energy commodities like oil faced pressure over potential impacts from tariff proposals on global growth. Brent crude stabilized just above $79 a barrel, reflecting broader economic concerns.

(With inputs from agencies.)