From Yahoo Finance: 2025-06-04 00:35:00

Today marks the deadline for U.S. trading partners to submit their “best offer” to avoid high import tax rates, coinciding with the start of U.S. duties on imported steel and aluminum, causing investor anxiety. Only Britain has a preliminary trade agreement with the U.S., with concerns over progress in wider deals.

Japanese Chief Cabinet Secretary Yoshimasa Hayashi stated that Tokyo has not received a letter from Washington regarding trade talks, adding to market unease. Investors are fleeing U.S. assets due to uncertain trade policies, seeking safer alternatives like gold, anticipating a negative impact on the global economy.

Financial markets are uncertain about where money previously invested in U.S. assets will go, as investors seek alternatives. Manishi Raychaudhuri of Emmer Capital Partners Ltd suggests Europe or emerging Asia as potential destinations. Data shows reduced exposure to U.S. assets, with the eventual outcome remaining uncertain.

Asian markets saw gains, particularly in tech stocks, as hopes remain for a possible deal between U.S. President Trump and Chinese leader Xi Jinping. South Korean assets also surged after liberal candidate Lee Jae-myung’s election victory, boosting expectations for economic stimulus and market reforms.

European futures indicate a slightly higher open, with focus on manufacturing data and the European Central Bank’s policy meeting. The ECB is expected to cut rates and continue easing measures due to muted wage growth, a strong euro, and sluggish economic growth, with May inflation falling below target.



Read more at Yahoo Finance: No ‘best offers’ yet as tariff deadline looms