Global Markets Plunge as Trump Unveils Aggressive Tariffs

In a sweeping announcement, President Donald Trump unveiled new tariffs, including a baseline 10% on almost all imports and significantly higher rates on major trading partners, sending shockwaves through global markets. Tariffs on China will reach 34%, while Vietnam faces a staggering 46% levy, exacerbating concerns about corporate earnings and inflation. The aggressive measures have prompted a notable decline in tech stocks, with the Nasdaq futures dropping 4% and significant losses for companies like Apple, Mattel, and Hasbro. Investors are increasingly wary of a potential recession, with Goldman Sachs raising the odds from 20% to 35%. The market response has been severe, with approximately $760 billion wiped from the value of leading tech companies and gold prices hitting record highs. Critics warn that these tariffs could ultimately lead to higher consumer prices and reduced spending, further destabilizing the economy.