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Asian stock markets : https://tmsnrt.rs/2zpUAr4

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Wall St futures skid 0.4% after Trump warns on EU, Canada

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Dollar up 0.4% on Canadian currency, euro off 0.3%

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Asian shares gave up earlier gains

By Stella Qiu

SYDNEY, July 11 (Reuters) - U.S. and European stock

futures slid in Asia on Friday after President Donald Trump

stepped up tariff threats against Europe and Canada, snuffing

out an early rally in regional share markets.

The dollar gained on the euro and the Canadian currency as

Trump announced late on Thursday a 35% tariff rate on all

imports from Canada from August 1, adding that he planned to

impose blanket tariffs of 15% or 20% on other nations.

The U.S. president, whose global wave of tariffs has upended

businesses and policymaking, said the European Union will

receive a letter "today or tomorrow".

Both Nasdaq futures and S&P 500 futures fell

about 0.4%. EUROSTOXX 50 futures dropped 0.6%.

The euro slipped 0.3% to $1.1668, while the

dollar gained 0.4% to C$1.3704.

Earlier in the week, Trump pushed back his tariff deadline

of July 9 to August 1 for many trading partners to allow more

time for negotiations, but broadened his trade war, setting new

tariffs on a number of countries, including allies Japan and

South Korea, along with a 50% tariff on copper.

"We consider it very unlikely the U.S. government can

agree on even ten more trade frameworks by 1 August," said

Joseph Capurso, head of international economics at the

Commonwealth Bank of Australia.

"The upshot is tariff rates will soon be increased sharply

again for many economies, or another extension for negotiations

will be granted."

Overnight, Wall Street rose modestly but posted record

closing highs as chip giant Nvidia ( NVDA ) made history with a

closing market valuation above $4 trillion.

The MSCI's broadest index of Asia-Pacific shares outside

Japan was flat on Friday but is set for a small

gain of 0.2% this week.

Tokyo's Nikkei reversed earlier gains to be

flat, which brought the weekly losses to 0.5%.

Investors are gearing up for second-quarter earnings to

gauge the impact of Trump's trade war launched on April 2.

JPMorgan Chase ( JPM ) is due to release results Tuesday,

essentially kicking off the reporting period.

In the Treasury markets, moves were muted in Asia. The

benchmark 10-year U.S. Treasury yields held at

4.3458%, having edged up a tiny bit overnight after data showed

jobless claims unexpectedly fell last week.

Oil prices rose slightly after losing 2% overnight. Brent

crude futures inched up 0.2% to $68.77 a barrel, having

lost 2.2% a day earlier.

U.S. West Texas Intermediate crude was at $66.76 a

barrel, up 0.3%.

Spot gold rose 0.3% to $3,333 an ounce.

(Editing by Shri Navaratnam)