Global markets are reeling as U.S. stock futures and Asian equities tumbled amid heightened trade tensions, with President Trump’s aggressive tariff policies deepening concerns over the global economy.
U.S. stock futures plummeted early Sunday, with the Nasdaq-100 leading the decline, falling over 3%. In Asia, Japan’s Nikkei 225 saw a 6% drop, triggering a temporary halt in futures trading. Oil prices and Treasury yields also fell, while Bitcoin took a hit.
The turmoil follows President Trump’s announcement of higher tariffs on Chinese imports, which led to a $6 trillion loss in U.S. stock value over two days. China swiftly retaliated with its own tariffs. China’s state-run People’s Daily assured that Beijing was prepared to manage the impact through fiscal and monetary policies.
As recession fears rise, investors are hoarding cash while analysts brace for more volatility. The latest tariffs took effect on Saturday, with further increases scheduled for Wednesday. Trump, while on a golf break, urged Americans to persevere, promising long-term benefits despite short-term pain.
Meanwhile, investor Bill Ackman called for a 90-day pause on the tariffs, warning of potential economic damage. The earnings season kicks off this week with reports from Levi Strauss, Delta Air Lines, and CarMax, while major banks like JPMorgan Chase and Wells Fargo are expected to report on Friday.
With the global economic outlook uncertain, the coming weeks will be critical in determining whether markets can recover or if further instability is on the horizon.
Be First to Comment