By News Editor Introduction
In an unprecedented move, President Donald Trump announced sweeping tariffs on major U.S. trading partners, leading to a severe downturn in global financial markets. The newly imposed tariffs include 34% on Chinese imports, 24% on Japanese goods, and 20% on products from the European Union. This aggressive trade policy has sparked fears of a global economic slowdown and resulted in the most significant stock market decline since the aftermath of the September 11, 2001, terrorist attacks.Latest news & breaking headlines+1New York Post+1WSJThe Guardian
Market Reactions
The announcement sent shockwaves through financial markets worldwide:
- U.S. Markets: The S&P 500 plummeted over 3%, marking an 11% drop from its recent peak. The Nasdaq Composite also fell sharply, with major companies like Apple experiencing their worst single-day drop since March 2020.
Currencies for all impacted countries are whipsawing while bonds are appreciating in value because they are seen as the safer bet.