Trump's Tariff Tsunami: A Global Market Meltdown

Global markets were rocked as President Donald Trump's new tariffs on imports led to widespread increases in costs. Major tech firms, retailers, and manufacturers faced significant stock declines, with analysts projecting negative impacts on growth, profit margins, and global supply chains.

In a dramatic turn of events, U.S. President Donald Trump's new tariffs have sent shockwaves through global markets, causing significant declines in key sectors. This move intensifies fears of escalating costs and threatens to unravel the delicate balance of international trade dynamics.

Major U.S. tech companies like Apple experienced sharp stock drops as the tariffs put pressure on profit margins and manufacturing costs. With over 90% of Apple's manufacturing rooted in China, the implications are far-reaching, with costs soaring exponentially according to recent estimates.

The retail sector wasn't spared either, as giants like Walmart and Nike braced for price hikes due to increased import duties from critical Asian production hubs. The financial and automotive sectors mirrored these concerns, with major players experiencing notable declines amid heightened economic uncertainties.

(With inputs from agencies.)