Dubai Telegraph - Global stocks mostly fall on Nvidia results, fresh Trump tariff talk

While Nvidia reported a staggering $22 billion in quarterly profits, shares finished down 8.5 percent, with investors seemingly wanting more from the company.

"Investors have gotten used to having Nvidia blow the door off," said Jack Ablin of Cresset Capital. "They did well but they didn't blow the door off."

Ablin also cited remarks from Trump indicating that 25-percent tariffs on Mexico and Canada would go into effect on Tuesday.

Major US indices finished decisively lower, with the broad-based S&P 500 losing 1.6 percent.

After shooting to records earlier this month, US indices have struggled in recent sessions following a trove of lackluster economic data as Trump presses on with an assertive US trade policy and government job cuts.

On Thursday, weekly jobless claims exceeded estimates, while pending home sales also disappointed.

European bourses also had a tough session in the aftermath of Trump's comments Wednesday that he would hit the European Union with 25-percent tariffs.

"As concerns swirls about the latest tariff threats emanating from the White House, caution remains the name of the game amid a murky outlook for the global economy," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

The threat against Europe came after Trump went back on the offensive over trade, signing a memo last weekend calling for curbs on Chinese investments in industries including technology and critical infrastructure, healthcare and energy.

In Asian trading, Hong Kong went above 24,000 points for the first time since 2022, thanks to another outstanding performance by Chinese tech giants.

But traders soon took their cash off the table and the market ended in the red, scenes mirrored elsewhere in Asia.

Thursday saw some big share-price movements among major companies.

While the Tokyo exchange closed higher, 7-Eleven owner Seven & I tumbled 11 percent after the convenience store giant said its founding family had failed to put together a white-knight buyout.

The firm rejected an offer last year worth nearly $40 billion from Canadian rival Alimentation Couche-Tard, which would have been the biggest foreign buyout of a Japanese firm.

In London, engine maker Rolls-Royce surged 16 percent while advertising giant WPP slumped 15.8 percent as traders reacted to earnings updates from the pair.

Online commerce giant eBay slumped 8.2 percent after the company's cautious financial outlook added to concerns about its exposure to tariff actions.

- Key figures around 2140 GMT -

New York - Dow: DOWN 0.5 percent at 43,239.50 (close)

New York - Dow: S&P 500: DOWN 1.6 percent at 5,861.57 (close)

New York - Nasdaq Composite: DOWN 2.8 percent at 18,544.42 (close)

London - FTSE 100: UP 0.3 at 8,756.21 (close)

Paris - CAC 40: DOWN 0.5 percent at 8,102.52 (close)

Frankfurt - DAX: DOWN 1.1 percent at 22,550.89 (close)

Tokyo - Nikkei 225: UP 0.3 percent at 38,256.17 (close)

Hong Kong - Hang Seng Index: DOWN 0.3 percent at 23,718.29 (close)

Shanghai - Composite: UP 0.2 percent at 3,388.06 (close)

Euro/dollar: DOWN at $1.0398 from $1.0485 on Wednesday

Pound/dollar: DOWN at $1.2600 from $1.2676

Dollar/yen: UP at 149.79 from 149.10 yen

Euro/pound: DOWN at 82.52 pence from 82.71 pence

Brent North Sea Crude: UP 2.1 percent at $74.04 per barrel

West Texas Intermediate: UP 2.5 percent at $70.35 per barrel

burs-jmb/aha

G.Rehman--DT