European benchmarks slide while Asia finishes mixed as uncertainty persists over Trump’s plans

By YURI KAGEYAMA Associated Press Business Writer TOKYO AP Global shares traded mixed Thursday as worries crept back following a Wall Street rally that came after President Donald Trump appeared to back off his criticism of the Federal Reserve and his tough talk in his business war France s CAC slipped in early trading to while the German DAX shed early to Britain s FTSE fell to U S shares were set to drift lower with Dow futures declining nearly at S P futures fell to Japan s benchmark Nikkei added to finish at Australia s S P ASX rose to South Korea s Kospi lost to Hong Kong s Hang Seng declined to while the Shanghai Composite was little changed inching up less than to Calling Trump s procedures announcements headline turbulence Tan Jing Yi of the Asia Oceania Treasury Department at Mizuho Bank warned that global economies could be hurt in the long run adding Sentiments swing from hopes of intense relief to inflicted economic gloom Much of the latest area volatility is because of uncertainty about what Trump will do with his economic policies Adding to certain relief was Trump saying late Tuesday that he has no intention to fire the head of the Federal Reserve Trump s tough talk had frightened investors because the Fed is supposed to act independently without pressure from politicians so that it can make decisions that may be painful in the short term but are best for the long term While a cut to interest rates by the Fed could give the market a boost it could also put upward pressure on inflation Trump also commented U S tariffs on imports coming from China could come down substantially from the current It won t be that high not going to be that high he announced Investors are hoping Trump would lower his tariffs after negotiating commerce deals with other countries Trump announced this week that he would be very nice to the world s second-largest economic activity and not play hardball with Chinese President Xi Jinping There is an opportunity for a big deal here U S Treasury Secretary Scott Bessent disclosed Wednesday In strength trading benchmark U S crude rose cents to a barrel Brent crude the international standard added cents to a barrel In currency trading the U S dollar slipped to Japanese yen from yen The euro cost up from AP Business Writer Stan Choe contributed