Global markets are feeling the heat as U.S. President Donald Trump's latest tariff announcement sends ripples across the world. The steep double-digit hikes on imports have unsettled investors from Europe to Asia, fueling concerns of a global slowdown. 😱
In the U.S., futures pointed to notable declines: the S&P 500 fell by 3.1 percent and the Dow dropped by 2.6 percent, setting the stage for a turbulent market open. European benchmarks like Germany’s DAX, France’s CAC 40, and Britain’s FTSE 100 took significant hits as well.
Asian markets weren’t spared either. Tokyo’s Nikkei 225 dipped by 2.8 percent, while major players such as Mitsubishi UFJ Financial Group and Mizuho Financial Group registered sharp losses. Japanese giants including Sony Corp. (down 4.8 percent) and Toyota Motor Corp. (down 5.2 percent) added to the uncertainty. Meanwhile, the Japanese yen strengthened as the U.S. dollar retreated.
The economic shock extended to the Chinese mainland, where an additional 34 percent tariff pushed the total tariff burden to 64 percent. Investors hope that further economic stimulus from Beijing might help counterbalance some of these perturbations.
Other regions also felt the sting. South Korea’s benchmark Kospi, Hong Kong’s Hang Seng, and markets in Thailand experienced declines after facing steep tariffs. This escalating trade war has left many watching closely, wondering how these global shifts will reshape the economic landscape.
Stay tuned for more updates as this unfolding story continues to develop. ⚡
Reference(s):
Global markets rattle as Trump escalates trade war with new tariffs
cgtn.com
