Global Markets Jolt Amidst Trump's Bold Tariff Announcement

The global markets experienced significant movement as President Trump announced unexpected tariffs on U.S. trading partners. This move caused the dollar to slide and the euro to firm. Concerns of a trade war have been heightened, with potential retaliations from other countries and fears of an economic slowdown.

In a dramatic twist, U.S. President Donald Trump has unveiled a series of tariffs, shaking up global markets on Thursday. The dollar dipped broadly while the euro gained strength, as Trump's announcement of harsher-than-expected tariffs sent investors scrambling to traditional safe havens like the yen and Swiss franc.

Specifically, Trump declared a 10% baseline tariff on all U.S. imports, affecting approximately 60 countries. This move intensifies the trade conflict that has been brewing since his return to the White House. The announcement sent shockwaves across global markets, with equities sinking and investors flocking to bonds and gold for safety.

Reactions poured in swiftly. EU Chief Ursula von der Leyen labeled the tariffs a major economic threat, warning of possible retaliatory measures. Meanwhile, financial markets adjusted to the news, with the yen touching a three-week high against the dollar and the euro climbing nearly 1% amid Europe's steady approach.

(With inputs from agencies.)