Global Markets Hit by U.S. Tariff Impact

U.S. President Donald Trump's imposition of sweeping tariffs on imports has led to significant turmoil across global markets. European luxury and retail stocks, including Swiss watchmakers and companies like Nike, have seen sharp declines due to high tariffs, with some Swiss exports facing a 31% tariff. These measures have sparked fears of a global trade war, with the EU considering countermeasures and economists assessing potential economic impacts. Major brands relying on Asian manufacturing, such as Nike, Adidas, and Puma, may increase U.S. retail prices by around 20% to offset losses. Swiss tech and luxury sectors are particularly vulnerable, with concerns about declining sales and economic growth. The tariffs have also contributed to a significant drop in U.S. retail and luxury stock prices, affecting companies like Walmart and Target.