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Hilal Sarı / Istanbul, July 2 (DHA) – US Commerce Secretary Wilbur Ross said it was “too premature" to say whether President Donald Trump's auto tariffs will come to pass, after European Union reportedly set to threaten US back with 300 billion dollars of retaliatory measures. Indices in Wall Street opened lower amid ongoing trade war concerns.
Reports regarding US preparing to withdraw from World Trade Organisation, political tensions in Germany between Chancellor Angela Merkel and interior minister and Christian Socaial Union Horst Seehofer after he intended to resign and weak Manufacturing PMI data from Euro Zone economies indices in Asia closed lower, European indices sharply lower too.
ISM Manufacturing Index unexpectedly rose to 60.2 with an increase of 1.5 percentage points from the May reading of 58.7 percent.
WALL STREET – Amid Trump’s trade war rhetoric and trade concerns, Wall Street indices opened lower in the first week day of the third quarter.
EUROZONE – Manufacturing PMI data from Eurozone economies signalled a weaker manufacturing growth in June. Manufacturing PMI for Euro Zone and Germany fell to 18-month-low, France Manufacturing PMI also fell to 16-month low. Whereas Italy Manufacturing PMI indicated strong manufacturing growth by rising to 53.3 from 52.7.
European Indices fell sharp amid politics and trade concerns;
In parallel with improvements;