Trump's Tariffs Trigger Global Market Tumble

Global markets plummeted following President Trump's tariffs on Canada, Mexico, and China, sparking trade war fears. U.S. dollar surged to new highs, European futures slumped, and stock markets in Asia and Australia dropped significantly. Retaliatory actions and potential economic impacts were swiftly discussed by affected nations.

Global stock markets tumbled on Monday as U.S. President Donald Trump's new tariffs on Canada, Mexico, and China sparked fears of an impending trade war, threatening global economic growth.

The tariffs led to a rise in the U.S. dollar to record levels against the Chinese yuan in offshore trading and to notable highs against the Canadian dollar and Mexican peso.

Major stock indices in Asia and Australia fell sharply, and the euro dropped significantly. Meanwhile, retaliatory measures from affected countries and potential economic repercussions were quickly discussed as experts projected a negative impact on earnings and economic growth.

(With inputs from agencies.)