Global equities retreat after mixed US session, with Trump Media shares down 50% year-to-date amid valuation concerns.
US equity index futures declined early Friday, with E-mini S&P 500 (ES) down 0.2% and Nasdaq-100 (NQ) off 0.7%, following Thursday’s uneven performance. Asian markets broadly fell, tracking the cautious sentiment as investors assessed inflation and policy risks.
Trump Media & Technology Group (DJT) shares reached new lows, dropping 50% year-to-date, as valuation concerns overshadowed its market debut. Tokyo’s core-core CPI rose to 1.9% in June, signaling broadening inflation beyond energy and reinforcing expectations for a Bank of Japan rate hike in July.
The People’s Bank of China set the USD/CNY reference rate at 6.8166, weaker than the Reuters estimate of 6.8015, and injected 231.5bn yuan via reverse repos. Iraq’s threat to exit OPEC added pressure to oil markets, with $50 per barrel now in focus amid cartel fractures.