Global Markets Reel as Trump's Auto Tariffs Shake Industry

Global stock markets dropped as auto tariffs announced by President Trump caused significant impacts on the automotive sector. Japanese, South Korean, and European shares faced sharp declines. The move fueled trade war fears, leading to further market uncertainty and affecting currency, gold, and oil prices.

Global stock markets fell sharply on Thursday after U.S. President Donald Trump announced new auto tariffs, rattling some of the world's leading carmakers.

The tariffs, set at 25% on all vehicles and foreign auto parts entering the U.S., triggered steep declines in Japanese and South Korean stocks in Asian trading.

Trump's decision escalated global trade tensions, raising investor fears about economic growth and inflation, while market uncertainty affected currencies, gold, and oil sectors.

(With inputs from agencies.)