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NEWS & CURRENT AFFAIRS

Trump's tariff 'medicine' engulfs markets as U.S. stocks brace for more turmoil

International

By Reuters | Apr. 7, 2025

President Donald Trump

President Donald Trump's sweeping tariff plans hammered global financial markets and U.S. stocks braced for more turmoil on Monday, after he warned foreign governments they would have to pay "a lot of money" to lift the levies he called "medicine".

Asian equity markets sank, European shares crashed to a 16-month-low and oil prices plummeted as investors feared the duties Trump announced last week could lead to higher prices, weaker demand and potentially a global recession.