Global Markets Slide Amid Trump's 35% Canada Tariffs
Global Markets Slide Amid Trump's 35% Canada Tariffs

Global Markets Slide Amid Trump's 35% Canada Tariffs

News summary

Global equity markets declined as U.S. President Donald Trump announced new tariffs, including a 35% tariff on Canadian imports starting August 1 and threats of tariffs up to 50% on products from Brazil and other countries, intensifying fears of a broader trade conflict. Major U.S. stock indexes such as the Dow Jones, S&P 500, and Nasdaq fell, with futures also tracking lower despite recent record highs, while European and Asian markets showed mixed responses. The Canadian dollar weakened against the U.S. dollar amid concerns over the tariff impact, and U.S. Treasury yields fluctuated with the two-year note reaching 3.89% and the 10-year at 4.39%. Bitcoin reached an all-time high above $118,000, reflecting increased interest from investors seeking safe havens amid market uncertainty. The trade tensions have led to increased volatility and investor anxiety globally, with some countries considering retaliatory measures and the U.S. administration emphasizing a strategic push to boost domestic production of critical materials. Market analysts note that while tariffs are causing short-term market pressures, underlying optimism from earlier in the week has begun to wane as the risk of escalated trade disputes grows.

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