Daijiworld Media Network- Mumbai
Mumbai, Jul 29: Asian stock markets continued their downward trend on Tuesday, weighed down by diminishing enthusiasm over recent tariff agreements and caution ahead of key economic indicators and corporate earnings.
The MSCI Asia-Pacific Index fell by 0.6%, marking its third straight day of decline. Wall Street ended Monday’s session relatively flat, with the S&P 500 briefly breaching the 6,400 mark before closing with little change. The dollar remained steady after its sharpest gain since May, while oil prices held firm following US President Donald Trump's warning to Russia to expedite a ceasefire with Ukraine or face potential economic sanctions.

Investor sentiment, previously lifted by progress in trade negotiations, has started to cool as attention now shifts to high-stakes economic data — particularly US job figures, inflation rates, and broader economic activity. Market watchers are especially focused on Wednesday’s Federal Reserve meeting, where interest rates are expected to remain unchanged. Adding to the market pressure are earnings reports from major tech giants, collectively valued at over $11 trillion.
Nick Twidale, chief analyst at ATFX Global Markets, noted, "The focus moves squarely onto US data this week and the Fed to a lesser extent. Now that we are getting clarity on tariffs, we may see adjustments — probably downside — as analysts evaluate the real impact across regions."
In Europe, stock markets also declined as leaders defended their recent trade pact with the US. However, German industry representatives expressed concerns, warning that the agreement leaves the European automotive sector vulnerable and threatens competitiveness. The Dutch trade minister labeled the deal "not ideal" and urged continued talks with Washington.
The euro remained largely unchanged after posting its sharpest single-day drop in over two months. Meanwhile, US and Chinese trade officials concluded the first day of negotiations aimed at extending their tariff truce past the mid-August deadline and reinforcing economic ties amidst growing concerns over security and stability.