Chicago April 3, 2025
Global Markets Plummet as Trump Announces New Tariffs
Stock markets around the world took a hit on Thursday after US President Donald Trump announced new tariffs on trading partners globally. The move sparked widespread concern, with experts warning of potential harm to producers and consumers alike.
In Asia, Japan’s Nikkei 225 index closed 2.8% down, while South Korea’s Kospi index fell less than 1%. Hong Kong’s Hang Seng Index also dropped 1.5%. European markets followed suit, with the Stoxx 600 index trading 2% lower. France’s CAC and Germany’s DAX fell 2.5% and over 2%, respectively, while London’s FTSE 100 dropped 1.5%.
US markets were also bracing for impact, with Dow futures down 2.8%, S&P 500 futures 3.4% lower, and the tech-heavy Nasdaq set to open 3.8% lower.
Critics were quick to slam Trump’s tariff announcement, with Bernd Lange, chair of the European Parliament’s International Trade Committee, calling it a “mess” that is “unfair” to producers worldwide. Lange warned that the tariffs “will really harm people on the ground” and dubbed the move “Inflation Day” rather than Trump’s touted “Liberation Day”.
