Global Markets Plunge as Trump Tariff Panic Hits Stocks, Dollar Drops, Gold Surges

Global markets faced another sharp decline on Friday, with stocks and the US dollar tumbling as gold surged to a record high above $3,200. This turmoil followed President Trump's announcement of a 90-day delay on new tariffs, which initially spurred market rallies but quickly reversed as investors realized no concrete resolutions had been made in the ongoing trade conflict with China. Asian markets, including Tokyo and Sydney, posted significant losses, while Ho Chi Minh City saw a brief rally amidst news of upcoming trade talks with the U.S. The volatility mirrored substantial declines on Wall Street, where the S&P 500, Dow, and Nasdaq all lost considerable ground. Investors fled to gold and other safe-haven assets, leading to a weakened dollar against major currencies, while fears of a global recession continued to pressure oil prices. Beijing's announcement of a moderately loose monetary policy aimed to reassure investors but did little to stem the selling frenzy.