Overview

• U.S. Federal Reserve Chair Jerome Powell warned that the Trump administration's tariffs are larger than anticipated, likely to drive inflation higher and slow economic growth.
• Stock markets plunged on April 16, with the Nasdaq falling 3.4%, the S&P 500 down 2.3%, and the Dow dropping 1.6%, as trade uncertainty rattles investors.
• Nvidia reported a projected $5.5 billion hit due to U.S. export restrictions on AI chips to China, with other tech companies also forecasting significant losses.
• President Trump personally joined trade talks with Japan, touting 'big progress,' but no final agreement has been reached, and negotiations remain ongoing.
• The World Trade Organization forecasts a 0.2% contraction in global trade for 2025, citing the impact of tariffs and escalating trade policy uncertainty.