Global Stocks Fall as Trump Plans New Tariffs on Dozens of Nations

Global stock markets plunged following President Trump's announcement of sweeping new tariffs on dozens of trading partners, significantly raising trade costs with the United States. European markets fell sharply, with the Eurostoxx and FTSE 100 indices hitting multi-week lows, particularly impacting pharmaceutical companies in Switzerland and across Europe due to steep levies, including a 39% tariff on Swiss exports. Asian markets also mostly declined, with countries like Japan, South Korea, and Taiwan facing tariffs ranging from 10% to 41%, while some nations scrambled to negotiate exemptions or reduced rates. These tariffs come after months of incremental deadlines and delayed implementation, as administrations worldwide attempted to strike deals to avoid the penalties. Investors are also closely watching upcoming U.S. economic data, including jobs reports, which could influence Federal Reserve interest rate decisions amid mounting trade tensions. Despite strong earnings from major U.S. tech companies, the market sentiment remains dominated by concerns over the broad economic impact of the tariffs.