Global Markets Stumble Amid US-China Trade Tensions

World shares retreated on Friday following a meeting between President Donald Trump and China's leader, Xi Jinping. Despite an agreement to extend a truce in their ongoing trade war, markets showed uncertainty. The S&P 500 futures rose 0.6% while the Dow Jones futures were up less than 0.1%.

Chinese markets fell over concerns of enduring US-China tensions, Hong Kong's Hang Seng index shedding 1% and the Shanghai Composite index dropping 0.8%. Japan's Nikkei 225 was a positive outlier, gaining 2.1% after a favorable report on industrial production.

In the US, shares of Big Tech companies like Meta Platforms and Microsoft fluctuated due to concerns over future investments in AI. Meta dropped 11.3%, while Microsoft fell 2.9% despite strong quarterly results. Such movements in major stocks significantly impact the value of the S&P 500 index.