Wall Street poised to open lower Friday as Trump’s tariff letters spark investor anxiety

By TERESA CEROJANO Associated Press MANILA Philippines AP Just hours after hitting all-time highs Wall Street was poised to open with losses on Friday a manageable sign that President Donald Trump s wave of tariff letters is again raising concern among investors Futures for the S P and the Nasdaq fell before the bell while futures for the Dow Jones Industrial Average futures slid Related Articles This day in History July the fall of Srebrenica AI device startup that sued OpenAI and Jony Ive is now suing its own ex-employee over deal secrets A small Texas population where everyone survived flooding has sirens that warned them Urgent down the force of water in the Texas floods Gun makers lose appeal of New York law that could make them liable for shootings Trump announced in a letter Thursday that he will raise taxes on numerous imported goods from Canada to deepening the rift between the longtime North American allies The letter to Canadian Prime Minister Mark Carney is an aggressive increase to the top tariff rates that Trump first imposed in March Just as the arena was catching its breath at new highs drunk on Nvidia fumes and blissfully ignoring the dollar s quiet groan President Trump tugged the rug again Stephen Innes of SPI Asset Management announced in a commentary Asian equities initially hopeful wilted into flat lines as if someone had pulled the plug on the optimism generator There s a growing sense now that peril has become radioactive tradable but only in hazmat gloves Innes added Following weeks of anxiety and wild swings in the realm spurred by Trump s tariff rollouts in the spring markets have been relatively stable the past couple of months steadily rising to record levels Meanwhile bitcoin climbed to a new all-time high Friday briefly eclipsing before settling around The token s price jump came amid bullish momentum across vulnerability assets and coincides with Nvidia s surge to a trillion valuation It also comes days before the U S Congress Crypto Week on July where lawmakers will debate a series of bills that could define the regulatory framework for the industry Levi Strauss jumped overnight after the jeans maker easily beat Wall Street s sales and profit targets and raised its full-year forecast despite including the impact of higher tariffs Shares of T-Mobile were largely unchanged after the Justice Department publicized Thursday that it would not prevent the company from closing on its proposed billion acquisition of U S Cellular That deal revealed more than a year ago had come under antitrust scrutiny from the Justice Department under President Joe Biden s administration U S Cellular shares were up a modest in premarket In midday European trading Germany s DAX and Paris s CAC each shed while Britain s FTSE lost In Asia shares were mixed Chinese markets were sharply higher in earlier trading buoyed by signs of manageable additional stimulus measures in China and Goldman Sachs Group s upgrade of Hong Kong stocks to market-weight The gains were later trimmed with the Hang Seng in Hong Kong finishing higher to and the Shanghai Composite up to Tokyo s Nikkei closed lower to while South Korea s Kospi shed to Australia s S P ASX slipped to and India s BSE Sensex fell to In ability trading benchmark U S crude added cents to per barrel Brent crude the international standard for oil prices gained cents to per barrel The dollar was trading at Japanese yen up from yen The euro slid to from