Overview

• The US-China trade war intensified with China raising tariffs on US goods to 125% following a US hike to 145%, severely disrupting global trade flows.
• Singapore's Straits Times Index dropped 1.8% on April 11, capping a week of significant losses for the trade-dependent economy, with recession fears looming.
• The US dollar weakened further, dropping 1% against the Singapore dollar, as global investor confidence wavered in response to the escalating conflict.
• US stocks rebounded on April 11, with the S&P 500 and Nasdaq gaining 1.8% and 2.1% respectively, after a volatile week driven by tariff-related fears.
• Economists warn of rising recession risks as businesses hesitate on investments and global supply chains face continued strain from the tariff standoff.