Global Markets Turmoil as Trump's Tariffs Trigger Trade War Fears

U.S. stock index futures plunged following President Trump's imposition of sweeping tariffs, sparking fears of a global trade war. Major indices and tech stocks took significant hits, while gold hit a record high. Market sentiment remains tense as traders worry about economic impacts and Federal Reserve policies.

The global stock markets faced a significant downturn on Thursday, following President Donald Trump's bold tariff strategy aimed at key trading partners. The decision has intensified fears of an impending trade war, which could potentially push the global economy into a recession.

Notably, the S&P 500 futures declined by 3% as of 0410 a.m. ET, with the Dow and Nasdaq indices also suffering considerable losses. The tech sector felt the impact profoundly, as shares of major companies including Apple, Microsoft, Nvidia, and Amazon recorded significant drops.

Traders on Wall Street remain cautious as they navigate through the volatile market conditions, exacerbated by Trump's aggressive tariff measures. The CBOE Volatility index, a key gauge of market fear, reached a three-week high, reflecting the persistent unease over economic stability and impending negotiations.

(With inputs from agencies.)