Brief by Shorts91NewsDesk / 03:45am on 04 Apr 2025,Friday International
Global stock markets tumbled after U.S. President Donald Trump announced sweeping new tariffs, triggering fears of a global trade war. The S&P 500 fell 4.8%, its worst day since the 2020 COVID crash, erasing $2 trillion in value. Major firms like Apple, Nike, and Target saw shares drop over 9%. Trump’s plan includes a minimum 10% tariff on all imports and sharply higher duties on goods from China (54%) and the EU (20%). China, the EU, and Canada have vowed retaliation. Analysts warn the tariffs may fuel inflation, stall growth, and risk pushing the U.S. into recession. (PC: Reuters)
