Global Markets Stumble as Tariff Fears Loom

Global stocks hit a six-week low due to impending U.S. tariffs, affecting technology shares and spurring dollar strength. President Trump's tariff announcements on imports from Canada, Mexico, and potentially the EU have triggered market volatility. Investors are also watching key economic indicators like the Fed's inflation gauge.

Global stocks fell to their lowest levels in six weeks on Friday, accompanied by a strong dollar standing near multi-week highs. This market upset stems from looming U.S. tariffs, heightening fears of a global trade war. Technology stocks were notably affected, with significant losses in companies like Nvidia.

President Trump announced that 25% tariffs on imports from Canada and Mexico would take effect on March 4, while hinting at potential tariffs on EU goods. Market reactions have been mixed, with notable declines in risk-sensitive currencies like the Australian dollar.

Bitcoin also experienced a dip, marking the first time it fell below $80,000 in over three months. Despite global market jitters, U.S. stock futures showed some promise, suggesting a potential Wall Street recovery. Meanwhile, investors remain alert to upcoming economic data, particularly U.S. inflation and payroll figures.

(With inputs from agencies.)