INSUBCONTINENT EXCLUSIVE:
Shares across Europe and Asia, U.S
futures toppled Thursday following U.S
President Donald Trumps announcement of steep tariff increases on international imports.The double-digit tariff walkings rattled world
markets, raising worries of an international recession.Futures for the S-P 500 dropped 3.1 percent, while that for the Dow Jones Industrial
Average fell 2.6 percent, signaling potential losses when U.S
markets reopen on Thursday.In Europe, Germanys DAX slipped 1.7 percent to 21,998.48, France;s CAC 40 lost 1.8 percent to 7,716.66, and
Britains FTSE 100 declined 1.2 percent to 8,506.44
Asian markets were hit hard, with Tokyos Nikkei 225 index briefly dipping 4 percent, before closing 2.8 percent lower at 34,735.93
Major Japanese companies saw sharp losses, consisting of Mitsubishi UFJ Financial Group, with its shares plunging 7.2 percent as the
potential impact of the 24 percent tariffs on the export-dependent Japanese economy dashed expectations that the reserve bank will keep
Mizuho Financial Group skidded 8 percent.Sony Corp.s stocks sank 4.8 percent and Toyota Motor Corp
quit 5.2 percent.The Japanese yen got, with the U.S
dollar falling to 147.42 yen from 149.28
The euro increased to $1.0952 from $1.0855
In South Korea, which was struck with a 25 percent tariff, the benchmark Kospi fell 1.1 percent to 2,486.70
Hong Kongs Hang Seng lost 1.7 percent to 22,813.22, while the Shanghai Composite index edged 0.2 percent lower to 3,342.01
The statement came as a major shock, Yeap Jun Rong of IG Singapore stated in a commentary
China, in specific, was hit with an additional 34 percent tariff, bringing its total tariff problem to 64 percent when accounting for
However, losses were partly blunted by expectations of further financial stimulus from Beijing to balance out the effect of the greater
tariffs.In Australia, the S-P/ASX 200 fell 0.9 percent to 7,859.70
Bangkoks SET shed 1.1 percent after Thailand was appointed at 36 percent tariff on its exports to the U.S
That could cause Thai exports to fall by $7 billion to $8 billion, or about 2.3 percent of the overall, Kasem Prunratanamala of CGS
International stated in a report.On Wednesday, U.S
stocks whipped through another dizzying day before Trumps unveiling of his Liberation Day tariffs.The S-P 500 rose 0.7 percent to 5,670.97
after careening between an earlier loss of 1.1 percent and a later gain of 1.1 percent
It has had a pattern this week of opening with sharp drops just to complete the day higher.The Dow industrials added 0.6 percent to
42,225.32, while the Nasdaq composite climbed 0.9 percent to 17,601.05
International monetary markets have actually been unpredictable in the middle of uncertainty over Trumpsescalating trade war
president argues that tariffs will create a fairer worldwide system and bring making tasks back to the U.S., economists caution they could
slow growth, harmed worldwide economies, and worsen inflation, which remains above the Federal Reserves 2 percent target.After U.S
markets closed, Trump announced a 10 percent standard tax on all imports, with steeper tariffs targeting countries with trade surpluses
He showed a chart at the White House laying out a 34 percent tariff on Chinese imports and a 20 percent tariff on goods from the European
Union.Previously, Trump had actually enforced 25 percent tariffs on auto imports and levies on China, Canada, and Mexico, while broadening
tariffs on steel and aluminum
He also presented import taxes on oil from Venezuela and prepares similar procedures for pharmaceutical drugs, lumber, copper, and computer
system chips.Bond markets mirrored the unpredictability, with 10-year Treasury yields changing from a morning low of 4.11 percent to a later
rise at 4.18 percent, showing shifting expectations on economic growth and inflation.Oil prices also declined, with U.S
benchmark unrefined falling $2.63 to $69.08 per barrel, while Brent crude dropped $2.62 to $72.33 per barrel.(Cover: U.S
President Donald Trump indications executive orders on tariffs in the Rose Garden at the White House in Washington, D.C., the U.S., April 2,
