Global Markets Rocked by Trump Tariffs and Uncertainty

The global financial markets are reeling from U.S. President Donald Trump's tariffs, particularly his trade war with China, which has heightened fears of a global recession. As countries grapple with the new trade order, U.S. Treasury Secretary Scott Bessent remains optimistic about future negotiations.

Global financial markets continue to be shaken by President Donald Trump's tariffs, which have intensified fears of a global recession. Investors were briefly hopeful as Trump paused duties for some countries, but the escalating trade war with China quickly reignited concerns.

U.S. Treasury Secretary Scott Bessent stated in a cabinet meeting that over 75 countries are eager to engage in trade negotiations. Despite the market volatility, Bessent and Trump remain hopeful about a possible deal with China, the world's second-largest economy.

Asian stock markets largely mirrored the downturn on Wall Street, with significant declines in Japan and Australia. In the U.S., a steep sell-off in Treasuries continued, reflecting ongoing market uncertainty. While the EU announced a pause on counter-tariffs, the financial repercussions of U.S. measures pose a threat to the European economy.

(With inputs from agencies.)