Daily Summary: Tariff Concerns Weigh on Markets

19:13 4 July 2025
  • Due to Independence Day, the US stock market remained closed today.

  • Concerns about the future of tariff negotiations led to declines in US index futures. The US500, US100, and US30 each dropped approximately 0.6%.
  • European markets also experienced corrective sentiment. The French CAC40 and Italian IT40 performed the worst, losing nearly 0.8%. The German DAX fell by 0.6%, while the Swiss SMI and British FTSE 100 remained near yesterday's closing prices.
  • Today's session brought a correction to Polish indices. This pullback follows two strong sessions that were not dampened by the Monetary Policy Council's decision to cut interest rates. Notably, today saw a decline in financial institutions, which had driven the Polish market's gains yesterday.
  • European Union negotiators are aiming to extend the suspension of US tariffs if a broader trade agreement with the US isn't reached before the critical July 9 deadline, Bloomberg reported. Talks have yet to yield a breakthrough and are expected to continue until the end of the week.
  • India announced that a trade deal with the US must be concluded by July 9 only if the country's interests are met. Otherwise, India will impose additional tariffs on the US.
  • In the currency market, the US dollar continued its correction, losing about 0.2% against a basket of currencies. Among the G10 currencies, the Japanese Yen performed best today, gaining approximately 0.3%. The Swedish Krona and Swiss Franc also saw notable gains (+0.2%).
  • Gold is regaining ground, rising 0.3% amid broad market uncertainty.
  • Meanwhile, natural gas and crude oil prices fell by 0.4% and 1% respectively.
  • French industrial production for May unexpectedly showed a 0.5% month-over-month decline (against an expected increase of 0.4%).
  • Bitcoin and other "risky" assets are losing value due to a broad market shift towards safe havens, driven by increasing uncertainty surrounding upcoming global tariff changes. The largest cryptocurrency is down 1.9% today.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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