Overview

• President Trump's 10% baseline tariff on all imports has triggered global market turmoil, with fears of a recession growing rapidly.
• China announced a 34% tariff on all U.S. goods starting April 10, escalating trade tensions between the world's two largest economies.
• The S&P 500 suffered its worst session in nearly five years, losing $2.4 trillion in market value, with the Nasdaq shedding $1.4 trillion.
• Oil prices have plummeted to multi-year lows, with Brent crude dropping 3.3% to $67.85 per barrel, reflecting reduced demand expectations.
• Economists warn that the tariffs could slash global GDP growth by up to 150 basis points, with significant impacts on the U.S., China, and the Eurozone.