Overview

• A 104% tariff on Chinese imports and duties on dozens of other countries came into effect just after midnight U.S. time, intensifying trade tensions.
• European markets are expected to open lower, with significant declines projected for major indices including Germany's DAX and France's CAC 40.
• South Korea's Kospi index has officially entered bear market territory, marking a 20% decline from its July high, as investor confidence wanes.
• U.S. President Donald Trump suggested the possibility of a major tariff on pharmaceuticals, further fueling market uncertainty.
• Canada has confirmed plans for retaliatory tariffs, including a 25% duty on U.S.-made vehicles, as global responses to the U.S. measures begin to materialize.