Australian shares to open lower amid tariff fears on Wall Street

The news: The Australian sharemarket is set to open lower after stocks fell on Wall Street on US President Donald Trump’s plans for tariffs on the European Union.

The numbers: Updated at 7.25am AEDT:

• ASX futures: down 11 points or 0.13% at 8,213 points
• Wall Street: Dow Jones down 0.47%, S&P 500 down 0.11%, Nasdaq down 0.06%
• Europe: FTSE 100 up 0.72%, CAC 40 up 1.15%, DAX down 1.71%
• Spot gold: up 0.03% to USD2,915.75 per ounce
• Oil prices: Brent down 0.45% to USD72.69/bbl, US WTI down 0.28% to USD68.74/bbl
• AUD: down 0.70% at 63.00 US cents
• Bitcoin: down 6.13% to USD83,335.38.

The context: US stocks reversed early gains after Trump said his administration will soon announce a 25% tariff on imports from the European Union. Investors are also focused on Nvidia's quarterly results, due after market close, which are expected to set the tone for the artificial intelligence sector. Nvidia's shares were up 2.9%, while an index of semiconductor stocks was trading 1.6% higher.

What to watch: Monthly Labour Force data for January at 11.30am; earnings from Qantas, Coles, Ramsay Healthcare, Perpetual, Atlas Arteria and Karoon Energy, among others.