Global equities rose on Friday as investors clung to the view that U.S. interest rates may fall further this year, with European shares posting their biggest weekly gain in 12 weeks on strength from banking stocks.

The dollar remained under pressure and Treasury yields rose following weak debt auctions and with a Fed rate cut in September looking increasingly likely.

Stocks looked set to rise on Thursday after President Donald Trump’s so-called reciprocal tariffs on scores of nations finally took hold. Futures tracking the Dow Jones Industrial Average were up 200 points,