{"id":272802,"date":"2025-04-03T05:11:07","date_gmt":"2025-04-03T05:11:07","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/03\/global-markets-slide-after-trump-slaps-huge-reciprocal-tariffs-on-liberation-day-the-times-of-india\/"},"modified":"2025-04-03T05:11:08","modified_gmt":"2025-04-03T05:11:08","slug":"global-markets-slide-after-trump-slaps-huge-reciprocal-tariffs-on-liberation-day-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/03\/global-markets-slide-after-trump-slaps-huge-reciprocal-tariffs-on-liberation-day-the-times-of-india\/","title":{"rendered":"Global markets slide after Trump slaps huge reciprocal tariffs on ‘Liberation Day’ – The Times of India"},"content":{"rendered":"
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Asian markets and US stock futures tumbled on Thursday after Donald Trump unveiled a sweeping increase in tariffs on imports from across the globe, escalating trade tensions and sending investors into a frenzy.
Tokyo\u2019s Nikkei 225 index dropped more than 3.4 per cent before a slight recovery, closing 2.9 per cent lower at 34,699.52. South Korea\u2019s Kospi also slumped, losing 1.9 per cent to 2,459.30 after the US imposed a 25 per cent tariff on South Korean imports.
Australia\u2019s S&P\/ASX 200 slid 1.8 per cent to 7,793.10, while US futures hinted at steep losses ahead. The S&P 500 futures contract fell 3 per cent, and Dow Jones Industrial Average futures dropped 2 per cent, setting the stage for a volatile session when Wall Street reopens.
\u201cLiberation Day\u201d tariffs <\/span>
US President Trump\u2019s tariff announcement, which he called \u201cliberation day\u201d measures, included a 24 per cent \u201creciprocal tariff\u201d on Japan, one of America\u2019s closest allies, along with new levies on China, the European Union, Canada, and Mexico. Speaking at the White House, Trump showed off a chart outlining new import taxes, including a 34 tariff on Chinese goods, 20 per cent on the EU, and 32 per cent on Taiwan.
He justified the move as an effort to \u201cbring fairness\u201d to global trade and revive US manufacturing jobs. However, analysts warn the tariffs could stifle economic growth and push inflation higher at a time when the Federal Reserve is struggling to keep it under control.
Wall Street<\/span>
Before the tariff announcement, US markets saw another turbulent session with the S&P 500 climbing 0.7 per cent to 5,670.97 after oscillating between a 1.1 per cent loss and a 1.1 per cent gain.
The Dow Jones Industrial Average rose 0.6 per cent to 42,225.32, while the tech-heavy Nasdaq advanced 0.9 per cent to 17,601.05.
Tesla dropped over 6 per cent on weak first-quarter deliveries but later recovered. However, it rebounded to close 5.3 per cent higher. CEO Elon Musk faced backlash over his involvement in the US government\u2019s aggressive cost-cutting policies.
Meanwhile, Newsmax, which soared 735 per cent on its debut earlier in the week, plummeted 77.5 per cent on Wednesday, giving back some of its major gains.
Airline stocks recovered from recent tariff-related losses, with United Airlines climbing 4.6 per cent.
The bond market reflected the nervousness in equities. The yield on the 10-year US Treasury note swung between 4.11 per cent and 4.18 per cent, reflecting uncertainty over economic growth and inflation.
Oil prices tumbled in early trading on Thursday. US benchmark crude dropped $2.08 to $69.63 per barrel, while Brent crude fell $2.06 to $72.89 per barrel, as per AP.
In currency markets, US dollar weakened against the Japanese yen, slipping to 148.07 from 149.28. Euro, on the other hand, strengthened slightly, rising to $1.0897 from $1.0855.<\/div>\n