Tariff Tremors: Global Markets in Tailspin

Global markets are reeling as President Trump's unwavering stance on tariffs triggers a rout. Asian markets face severe losses, with Taiwan's market plummeting by nearly 10%. The likelihood of a U.S. recession grows, while futures markets prepare for potential Fed rate cuts amid escalating trade tensions.

Global markets remain in turmoil as President Donald Trump refuses to back down on his aggressive tariff plans, bringing further chaos to already troubled Asian markets.

Investment giant Bill Ackman lambasts the tariffs, labeling them an 'economic nuclear winter.' Asian indices, including Nikkei and Chinese blue chips, nosedive despite potential stimulus from Beijing.

As Taiwan's market reopens with a devastating 10% loss, fears mount about supply chain disruptions. Authorities struggle with short-selling, and market losses hint at possible recession risks in the U.S., pressuring the Federal Reserve into potential early rate cuts.

(With inputs from agencies.)