Introduction
Global stock markets experienced a steep decline on Thursday following President Trump's announcement of new tariffs.
Context
The announcement significantly impacted European markets, where shares of major companies like Adidas and Puma saw substantial drops. Meanwhile, gold prices soared to a record high amidst the turmoil.
Developments
Analysts are expressing growing concerns over the implications of these tariffs, which represent the largest trade shift in a century. Jay Hatfield remarked that this situation could be "the worst-case scenario," raising fears of a potential recession in the United States.
Conclusion
The introduction of new tariffs poses risks to policy credibility and highlights the fragility of the current economic landscape as markets react to these developments.
