Turmoil in Trade: U.S. Tariffs Stir Global Market Uncertainty

Global markets react to U.S. tariff uncertainties as tax day arrives. Asian markets showed slight recovery, while European and U.S. markets faced mixed signals. The Trump administration targets pharma and technology sectors with potential tariffs, impacting European drugmakers. The U.S. dollar and gold exhibit notable movements in response to evolving trade dynamics.

As the United States faces tax day, global markets remain tense with uncertainty over U.S. trade tariffs. Today, Asian markets showed slight recovery after President Trump hinted at exemptions on auto-related tariffs, giving a temporary boost to Japan's Nikkei, especially for car manufacturers.

Meanwhile, anticipation builds around the Trump administration's focus on pharmaceuticals and technology sectors, as it seeks to probe and potentially impose tariffs. This poses a significant threat to European pharmaceutical companies, like Novo Nordisk, known for their successful weight-loss drugs.

The U.S. dollar is under pressure, reflecting in its three-year low against the euro and six-month low against the yen. Gold sees an uptick, nearing Monday's record high, as investors seek safe-haven assets. Key economic and corporate events will further influence market trends on Tuesday.

(With inputs from agencies.)