BANGKOK (AP) 鈥� European and Asian shares were mostly lower Tuesday after a new round of tariffs imposed by U.S. President took effect.
China hit back at Washington's move to raise tariffs by 20% across the board with .
Germany's DAX slipped 1.8% to 22,733.26 while in Paris the CAC 40 declined 1.1% to 8,108.71. Britain's FTSE 100 lost 0.4% to 8,837.92.
The future for the S&P 500 rose 0.1% while that for the Dow Jones Industrial Average was unchanged.
In Asian trading, Tokyo's Nikkei 225 dropped 1.2% to 37,331.18, while the Hang Seng in Hong Kong lost 0.4% to 22,922.16. The Shanghai Composite index edged 0.2% higher to 3,324.21.
South Korea's Kospi gave up 0.2% to 2,528.92. Taiwan's Taiex shed 0.7%, while Bangkok's SET lost 1.1%.
On Monday, the S&P 500 dropped 1.8% after Trump said there was 鈥渘o room left鈥� for negotiations that could lower the tariffs that took effect Tuesday for imports from Canada and Mexico. Trump had already to allow more time for talks.
The Dow dropped 1.5% and the Nasdaq composite slumped 2.6%.
The Chinese tariffs on American beef, corn, soy and other farm products announced Tuesday expanded the potential impact of Trump's trade tactics, said Francis Lun, CEO of Geo Securities in Hong Kong.
鈥淚 don鈥檛 think China will buy any more U.S. farm products. The orders will go to South America,鈥� Lun said. "I think all in all, it鈥檚 a lose-lose situation. Nobody gains anything.鈥�
Investors had hoped Trump would choose a less painful path for global trade. Monday's loss shaved the S&P 500's gain since Election Day down to just over 1% from a peak of more than 6%. That rally had been built largely on hopes for policies from Trump that would strengthen the U.S. economy and businesses.
After the S&P 500 last month following a parade of fatter-than-expected profit reports from big U.S. companies, the market began following on the U.S. economy, including a couple showing about because of the threat of .
The latest such report arrived Monday on U.S. manufacturing. Overall activity is still growing, but not by quite as much as economists had forecast. Perhaps more discouragingly, manufacturers are seeing a contraction in new orders. Prices, meanwhile, rose amid discussions about who will pay for Trump鈥檚 tariffs.
The market鈥檚 recent slump has hit and some other formerly high-flying areas of the market particularly hard. They fell even more Monday, with Nvidia down 8.8% and down 2.8%.
In other dealings early Tuesday, U.S. benchmark crude oil lost 93 cents to $67.44 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude gave up $1.10 to $70.52 per barrel.
The U.S. dollar slipped to 149.86 Japanese yen from 149.50 yen. The euro rose to $1.0519 from $1.0488.
Bitcoin fell to about $83,900, according to CoinDesk, down 8.7%.
Elaine Kurtenbach, The Associated Press
