Stocks Plummet as Trump Unveils Aggressive Tariffs on 60 Nations

Stocks plummeted and investors shifted to safer assets after President Donald Trump announced aggressive new tariffs, including a baseline 10% on imports from all countries and significantly higher rates on key trading partners such as China and the EU. The S&P 500 and Nasdaq futures dropped over 3%, while gold prices surged to a record high, reflecting investor anxiety about inflation and economic growth. Economists expressed concerns that these tariffs could escalate recession risks, with forecasts for GDP growth being revised downward. Central banks are now considering the potential inflationary impacts of these tariffs, and market sentiment has shifted from optimism to caution. Analysts suggest this comprehensive tariff regime could lead to prolonged uncertainty in global markets as firms reconsider investment strategies amidst potential retaliatory measures. The overall mood in financial markets has turned increasingly negative, as the implications of the tariffs unfold.