Global Markets in Chaos: Stock Plunge Amid Tariff Turmoil

Global markets faced a significant downturn with the S&P 500 and other indexes plummeting due to new U.S. tariffs under President Trump. Investors leaned towards safe-haven assets, fearing a global recession. The tariffs caused disruptions across various sectors, with significant impacts noted in technology and energy.

Global stock markets plunged on Thursday as the S&P 500 shed over 4% following drastic U.S. trade tariffs announced by President Trump. These tariffs sparked fears of a looming global recession, causing investors to gravitate towards safe-haven assets like bonds and the Japanese yen.

The newly imposed 10% tariff on imported goods, coupled with additional reciprocal tariffs on numerous countries, left traders uneasy. The potential for a full-scale trade dispute threatens to trigger a global economic slowdown and inflation rise, compounding the world economy's recovery from pandemic-induced setbacks.

Markets globally reacted sharply. The Nasdaq fell over 5%, with technology stocks like Apple and Amazon taking substantial hits. Meanwhile, oil prices slumped over 6%, impacting the S&P 500's energy sector. As treasury yields dropped, safe-haven bonds became more attractive, with implications for global economic stability.

(With inputs from agencies.)