Global markets are in freefall after former U.S. President Donald Trump announced aggressive new tariffs on imports, triggering fears of a worldwide economic slowdown. 📉 From Tokyo to London, stocks tumbled as investors scrambled to assess the fallout of what analysts are calling a 'trade war tsunami.' 🌊
U.S. futures plunged overnight, with the S&P 500 dropping 3.1% and the Dow Jones Industrial Average falling 2.6%. European markets didn't escape the carnage: Germany's DAX slid 1.7%, France's CAC 40 fell 1.8%, and the UK's FTSE 100 dipped 1.2%.
Asia took the hardest hit. Japan's Nikkei 225 nosedived nearly 4% at one point, with major exporters like Mitsubishi UFJ Financial Group and Toyota shedding over 7% and 5%, respectively. 💸 South Korea's Kospi dropped 1.1% after a 25% tariff was slapped on its exports, while Thailand's market slumped 1.1% as analysts warned of an $8 billion export loss.
"China is the biggest casualty here," said Yeap Jun Rong of IG Singapore, noting Chinese imports now face a staggering 64% cumulative tariff. 🇨🇳 But hopes for Beijing'economic stimulus softened the blow, with the Shanghai Composite losing just 0.2%.
Meanwhile, oil prices tanked as investors fled riskier assets, and the Japanese yen surged against the dollar. 📊 Analysts warn the tariffs could fuel inflation and delay interest rate cuts, saying the ripple effects are just beginning. Stay tuned for updates! 🔥
