Global markets faced turmoil as President Trump’s tariffs raised fears of a global recession. Asian shares struggled, with Japan’s Nikkei dropping 1.85%. U.S. stocks lost $2.4 trillion in value, marking the steepest one-day loss since 2020.
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Trump’s Tariffs Spark Global Recession Fears, Market Turmoil
Investors turned to safe-haven assets like gold, which neared a record high, and currencies such as the yen and Swiss franc.
The dollar hit a six-month low, while oil prices continued to decline. Analysts warned of stagflation risks, with the Federal Reserve expected to cut rates further. Fed Chair Jerome Powell’s upcoming speech is anticipated to provide insights into the economic outlook.
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