Global Markets Tremble Amid Trade War Jitters and Tech Sell-Off

Asian equities tumbled and the U.S. dollar soared amid fears of an escalating global trade war. Tech stocks, especially Nvidia, faced heavy losses. Trump's trade policies cast a shadow on markets, while currency fluctuations and potential U.S. interest rate cuts added to the uncertainty.

On Friday, Asian equity markets experienced significant declines, spurred by growing anxiety over potential escalations in a global trade conflict. The U.S. dollar traded near multi-week highs against major currencies, while technology stocks faced additional pressure as key players such as Nvidia suffered steep losses following a critical earnings report.

The strengthening of safe-haven currencies like the yen and Swiss franc was observed, partly driven by a decline in U.S. Treasury yields. Meanwhile, bitcoin fell to its lowest level in over three months, and gold prices dipped, though oil managed to maintain most of its recent gains.

U.S. President Donald Trump's announcement of upcoming tariffs on imports from Canada, Mexico, China, and the EU has reignited market fears, compelling investors to reconsider their risk strategies in the near term. Consequently, global stock markets are on track for their worst performance since mid-December, highlighted by a 2% slump worldwide.

(With inputs from agencies.)