Australia

Please note: we are discontinuing the Global Markets Report. Today's article is the final.

Australian shares are set to open lower, after US benchmarks fell on tariff fears and Nvidia result.

ASX futures were down 0.83% or 69 points as of 8:30am on Friday, suggesting a lower open.

US stocks ended broadly lower after President Trump says tariffs on Canada and Mexico are set to go into effect next week and announces a new 10% levy on products from China.

Nvidia shares dropped 8.5%, even though the AI semiconductor maker reported strong sales of its new Blackwell chips. Analysts point to narrower profit margins and worry about sales in China.

Initial jobless claims rose to the highest weekly level since December. Treasury yields strengthened along with the dollar.

DJIA fell 193 points, or 0.5%, to 43,239, the S&P 500 lost 1.6% to 5,861 and the Nasdaq dropped 2.8% to 18,544.

In commodity markets, Brent crude oil was up 1.72% to US$73.78 a barrel, while gold was down 1.33% to US$2,877.59.

The Australian dollar was at 62.34 US cents, down from its previous close of 63.02.

Asia

Chinese shares closed mixed. The benchmark Shanghai Composite Index rose 0.2% to 3,388.06, and the Shenzhen Composite Index slipped 0.3% to 2,091.66.

Hong Kong shares ended lower. The benchmark Hang Seng Index fell 0.3% to 23,718.29.

Japanese shares closed higher. The Nikkei Stock Average lifted 0.3% to 38,256.17.

India shares ended flat. The BSE SENSEX was unchanged at 74,612.43.

Europe

Stocks in the U.K. finished higher. The FTSE 100 Index lifted 0.3% to 8,756.21.

In Europe, shares closed lower. Germany's DAX fell 1.1% to 22,550.89, and France's CAC 40 declined 0.5% to 8,102.52.

North America

U.S. stocks ended lower. The DJIA fell 0.4% to 43,239.5, the S&P 500 slipped 1.6% to 5,861.57, and the Nasdaq dropped 2.8% to 18,544.42.

Among S&P 500 companies, the top three gainers were Invitation Homes Inc INVH surging 5.48%, Warner Bros. Discovery Inc WBD jumped 4.76%, and Allstate Corp ALL lifted 3.52%.

The biggest decliners were Teleflex Inc TFX which dropped 21.69%, Super Micro Computer Inc SMCI fell 15.97%, and Viatris Inc VTRS lost 15.30%.