Trade Tensions and Tariffs: Wall Street Woes and Record Gold Highs

Wall Street anticipates continued losses due to President Trump's new auto tariffs, while gold reaches record highs as investors seek safe-haven assets. Global markets, including Europe and Asia, experience declines, and the U.S. dollar struggles despite "America First" policies. Analysts react to evolving trade tensions and potential impacts on the economy.

Wall Street braces for a further slump as President Trump's latest tariffs on auto imports spark fears of an escalating trade war. The uncertainty has driven gold to new record highs, reflecting investors' pivot to safer assets amid global market tensions.

Across the globe, markets are reeling. In Europe, the STOXX 600 index drops due to weakness in the car and auto parts sector. Major markets in Japan and Korea also see declines, while the U.S. dollar remains in trouble despite earlier predictions of its success this year.

Economists and analysts express apprehension over future broad tariffs and their wider implications for economic growth and inflation. Meanwhile, in commodities, oil stays flat and gold continues its upward trajectory, painting a complex picture of the financial landscape.

(With inputs from agencies.)