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3w ago

Global Markets Reel as U.S. Tariffs Deepen Economic Uncertainty

President Trump's sweeping tariffs spark widespread stock losses and raise fears of a U.S. recession, with major indices and companies hit hard.

A person walks near the Milan Bourse (Italian stock exchange) as global markets brace for a hit to trade and growth caused by U.S. President Donald Trump's decision to impose import tariffs on dozens of countries, in Milan, Italy, April 3, 2025. REUTERS/Claudia Greco/File Photo
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Overview

  • U.S. stock markets suffered their worst day since June 2020, with the NASDAQ down 6%, the S&P 500 dropping 4.8%, and the Dow Jones falling nearly 4%.
  • Asian markets continued to decline on Friday, with Japan's Nikkei down 3.5% and South Korea's KOSPI falling 1.7%.
  • European markets, including the UK's FTSE 100, are expected to extend losses, with British exports facing a 10% tariff.
  • Major U.S. companies, such as Nike, Apple, and Amazon, saw significant stock declines, with Nike plummeting 14% and Apple down 9%.
  • President Trump remains optimistic about the long-term market outlook, asserting that 'the markets are going to boom,' despite analysts warning of heightened recession risks.