Market Shifts as Trump Delays EU Tariffs: Equities Rally, Gold and Dollar Retreat

US and Japanese equities surged while gold and the dollar plunged after President TRUMP postponed tariffs on European goods. The deadline extension from June 1 to July 9 triggered an immediate rebound in US equity futures, erasing part of Friday’s losses sparked by the initial tariff threat.

S&P 500 futures climbed 0.9%, with Nasdaq 100 futures gaining 1% in early trading. The recovery contrasted sharply with last week’s selloff, which had spilled into Asian markets before the reprieve. Japanese, Australian, and Hong Kong futures had been trading lower prior to the announcement.

The tariff delay reversed Friday’s flight to safety that had boosted the dollar and punished risk assets. Trump’s earlier warning included potential 25% tariffs on smartphones, a MOVE that could have disrupted global tech supply chains.