A tariff threat from President Donald Trump is roiling markets again.
US stock futures and global stock markets, including shares of Asian and European automakers, tumbled Friday after President Donald Trump said the United States will impose a 5% tariff on all Mexican imports.
- Japan's Nikkei slumped 1.6%, while South Korea's KOSPI was mostly flat. Markets in Europe also opened lower. Britain's FTSE 100 index fell 0.9%. Stocks in Germany shed 1.7%, and in France they dipped 1.3%.
- Stock futures indicated that those losses would extend to the US. The Dow is poised to fall 260 points, or 1%, when markets open. The S&P 500 is tracking similar losses, while the Nasdaq could drop 1.3%.
- The Mexican peso is down more than 3% against the US dollar.
US markets finished modestly higher yesterday, recovering a small portion of the week's losses. But despite the gains, all three major indexes are still down on the week.
The Dow is on track for its sixth consecutive weekly decline, its longest streak of that kind since June 2011.
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