Major stock markets in the Gulf were mixed in early trade on Thursday, as investors weighed the potential impact of U.S. President Donald Trump's tariffs on global economic growth.

Scavino is the third top official who, along with two others, sold Trump Media stock with the combined value of up to $10 million before tariffs news

Brazilian currency and stocks declined on Wednesday after U.S. President Donald Trump levied 50% tariffs on goods from the country, amid souring relations due to the South American country’s participation in BRICS and the trial of former president Jair Bolsonaro.

The Nasdaq powered to a fresh record and major European markets closed in the green Wednesday, brushing off US President Donald Trump’s growing array of tariff targets. After releasing tariff warning letters to seven additional countries early Wednesday afternoon,

US stocks closed little changed despite Trump's tough tariff talk. Copper climbs to record high after Trump threatens to slap 50% levy on imports.

The FTSE 100 surged to a new record high as investors were unfazed by Donald Trump’s fresh barrage of tariffs. The UK’s flagship stock index climbed as much as 1.1pc to 8,967.21 amid a sharp rebound in mining stocks.

None of the countries targeted in the first batch of letters — the Philippines, Brunei, Moldova, Algeria, Libya, Iraq and Sri Lanka — is a major industrial rival to the United States.

U.S. stock futures are higher as investors eye President Donald Trump's next tariff move and minutes from the last Federal Reserve policy meeting.