Global Markets Tumble Amid Escalating U.S. Tariff War

Global stock markets plummeted as U.S. tariffs sparked fears of a recession. Investors flocked to safer assets like bonds and gold, with significant losses in major indices and leading tech companies. Market volatility surged due to supply-side economic shocks, prompting concerns over potential interest rate cuts.

In a turbulent turn of events, global stock markets took a nosedive on Thursday, rattled by the newly imposed U.S. tariffs which have escalated existing trade tensions to new heights.

Amid fears of a cascading recession, investors swiftly turned their attention to safer bets such as bonds, gold, and the Japanese yen, sending the U.S. dollar to a six-month low. The tariffs, spearheaded by President Donald Trump, have effectively amplified import taxes to historical highs, unsettling economic forecasts globally.

Major indices, including the Nasdaq and European markets, witnessed sharp declines, with tech giants Apple and Nvidia facing notable devaluation. The strain extended to Asia, profoundly impacting the Nikkei in Tokyo and Vietnamese stocks. Additionally, the volatility prompted talks of impending interest rate reductions despite inflationary concerns.

(With inputs from agencies.)