US: Stock markets worldwide tumbled on Monday after US President Donald Trump indicated that upcoming tariffs would impact “all countries.” The announcement shattered expectations that only nations with significant trade imbalances would be affected.
Speaking aboard Air Force One, Trump declared that, “You’d start with all countries. Essentially all of the countries that we’re talking about.” The tariffs, set to be announced on Wednesday, which is dubbed “Liberation Day” by Trump, sent shockwaves through financial markets.
The prospect of increasing trade tensions triggered heavy losses. In Asia, Japan’s Nikkei index fell 4 percent, while South Korea’s Kospi dropped 3 percent. European markets followed suit, with the UK’s FTSE 100 sliding 1.3 percent to a two-week low. Germany’s DAX and France’s CAC both shed 2 percent.
Wall Street opened sharply lower, as the S&P 500 fell 1.4 percent, the Nasdaq tumbled 2.4 percent, and the Dow Jones declined 0.8 percent.
Investor sentiment has deteriorated throughout March, with the MSCI global stock index falling 4.5 percent -its worst performance since September 2022.
The US dollar has also experienced its sharpest monthly decline in two years, dropping 3.5 percent against other currencies. With market uncertainty growing and economic concerns mounting, investors brace for further volatility.
