Stocks fell along with equity-index futures as President Donald Trump ratcheted up trade tensions again ahead of next week’s deadline for higher tariffs.
A gauge of Asian equities retreated 0.4% with shares in Hong Kong and South Korea falling by more than 1%. Trump said his administration may begin sending out letters to trading partners as soon as Friday, setting unilateral tariff rates, ahead of the July 9 deadline for negotiations. Equity-index futures for the US and Europe both declined by 0.2%. The dollar edged lower. There’s no cash trading in Treasuries due to a holiday in the US Friday.
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