Overview

• US stock indices suffered significant losses, with the Nasdaq down 5.1%, the S&P 500 down 4%, and the Dow Jones falling 3.5%.
• European markets also faced steep declines, including Germany's Dax down 3.08% and France's Cac 40 dropping 3.31%.
• The tariffs, which include a 10% baseline rate and higher rates for countries like Vietnam (46%) and China (34%), are raising concerns about inflation and recession risks.
• Key sectors, including technology and retail, were hit hardest, with companies like Apple and Five Below experiencing sharp stock declines of 9% and nearly 30%, respectively.
• The US dollar weakened against major currencies, while Brent crude oil prices fell by 6.8% to $70 per barrel, reflecting fears of global trade disruption.