news 
Stocks slide around the world as investors recoil from Trump tariffs
Financial markets around the globe have tumbled in response to President Donald Trump’s announcement of a barrage of new tariffs. U.S. stock futures are pointing to a sharp drop when Wall Street opens for business, with futures for the S&P 500 plunging 190 points or 3.3%, while those for the Dow Jones Industrial Average and Nasdaq composite index sinking 3% and 4%, respectively.
Overseas markets also suffered significant losses overnight. In Asia, Tokyo’s Nikkei 225 index briefly dipped 4% before closing down 2.8%, with automakers and banks taking big hits. South Korea’s benchmark Kospi fell 1.1%. In Europe, Germany’s DAX dropped 1.7%, France’s CAC 40 in Paris lost 1.8%, and Britain’s FTSE 100 shed 1.2%.
Gold prices briefly reached a record high at $3,167 before dipping as investors digested the impact of the White House’s escalating trade war. Equity analyst Adam Crisafulli, head of Vital Knowledge, noted that “Stocks are sliding in all markets as the world responds to Trump’s worse-than-expected (and absurd) trade war.”
The U.S. will impose a 10% baseline tariff on all U.S. trading partners starting April 5. Four days later, the U.S. is also set to apply reciprocal tariffs on roughly 60 countries. Despite U.S. markets rising slightly as investors had hoped for more restrained trade policies from the White House, reality has now taken hold amid concerns that the economy could stall and possibly tip into recession.
Analysts at Societe Generale have warned that “The Trump administration adopted a shock-therapy approach to tariffs, imposing very high tariffs on all its major trading partners.” They also noted that these tariffs are “undoubtedly worse than some of the worst-case scenarios envisioned earlier, both at the aggregate and economy-by-economy levels. This set of tariffs, if they persist, would very likely tip global trade into recession.”
The Associated Press contributed to this report.
Source: https://www.cbsnews.com/news/trump-tariffs-stocks-down-reciprocal-4-3-25/
