Il Nuovo Postiglione - Global stocks wobble, gold shines as tariff uncertainty looms

European and Asian equity markets struggled for direction while oil prices climbed.

Trump has lived up to his campaign pledges to resume his hardball trade diplomacy, signing off on steel and aluminium tariffs and warning of more measures to come.

While the moves have jolted sentiment, equities have held up since Trump took office, with analysts saying measures have so far been less severe than feared.

Still, caution looms over trading floors as dealers brace for the next announcement out of the White House.

Asian markets struggled to maintain the momentum from Monday, with Hong Kong and Shanghai falling.

In Europe, Frankfurt's DAX 40 index set a new record above 22,000 points, while Paris edged higher and London slipped.

For tariffs to be effective, "the administration needs to keep everyone guessing and this creates uncertainty for financial markets", noted AJ Bell investment director Russ Mould.

"The administration is clearly prepared to implement tariffs rather than just using them as a negotiating tactic," he added.

The uncertainty fuelled by Trump's moves has pushed safe-haven gold ever higher. It extended gains Tuesday to hit a new peak above $2,942 an ounce.

All three main US indices started the week on the front foot thanks to a rally in tech firms.

But fears that Trump's tariffs, along with tax cuts and deregulation, will reignite inflation and force the Federal Reserve to keep interest rates elevated have sent the dollar up against most of its peers, although it traded mixed on Tuesday.

Readings on consumer and producer price indexes this week will provide a fresh snapshot of inflation, while Fed boss Jerome Powell is also due to speak with US lawmakers.

Both will be pored over for an idea about the bank's plans for rates, with forecasts for two cuts at most this year.

"Investors will be very interested to hear what Mr Powell has to say about tariffs, particularly how they may affect inflation," said David Morrison, senior market analyst at financial services provider Trade Nation.

Focus remained also on the latest company earnings season which was nearing its end.

Britain's BP shares slid after it pledged to "fundamentally reset" its strategy in the face of tumbling profits.

- Key figures around 1430 GMT -

New York - Dow: DOWN 0.3 percent at 44,357.93 points

New York - S&P 500: DOWN 0.3 percent at

New York - Nasdaq Composite: DOWN 0.5 percent at 19,611.33

London - FTSE 100: DOWN 0.1 at 8,755.24

Paris - CAC 40: UP 0.2 percent at 8,025.72

Frankfurt - DAX: UP 0.3 percent at 21,967.07

Hong Kong - Hang Seng Index: DOWN 1.1 percent at 21,294.86 (close)

Shanghai - Composite: DOWN 0.1 percent at 3,318.06 (close)

Tokyo - Nikkei 225: Closed for a holiday

Euro/dollar: UP at $1.0331 from $1.0308 on Monday

Pound/dollar: UP at $1.2406 from $1.2364

Dollar/yen: UP at 152.38 yen from 151.97 yen

Euro/pound: DOWN at 83.29 from 83.35 pence

West Texas Intermediate: UP 1.6 percent at $73.49 per barrel

Brent North Sea Crude: UP 1.6 percent at $77.06 per barrel

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T.Cusumano--INP