Global stocks tumble as Trump offers no respite from tariffs

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American and Asian stock futures decreased sharply in early trade after the Trump administration indicated that the overwhelming customs tariff will remain in place despite fears that it may stimulate the global economic recession.

The contracts that follow the Blue S& P 500 chip fell 4 percent and those for technology that fell NASDAQ 100 percent. The trading activity is usually light in the Asian morning, which can exacerbate the volatility. In Japan, the Topix index decreased by 7.6 percent, while Nikkei 225 decreased by 7.1 percent after the open period. KOSPI indicators in Australia also decreased by S&P/ASX and KOSPI indices in Korea more than 5 percent.

The decline comes after more than 5 meters of S&P 500 on Thursday and Friday were erased at the end of its worse since the beginning of the epidemic in 2020. Donald Trump has deepened to raise the level of the global trade order by implementing huge fees on American imports on the global economy path. China announced 34 percent revenge duties.

The goods also suffered heavy losses in early trading on Sunday night, as the standards of West Texas, the American standard, decreased by 3.4 percent to $ 59.90 a barrel – less than the price that most rock producers need to break even. Brent International decreased by 3.4 percent to $ 63.35.

The copper, which is widely seen as a global economy agent due to its industrial uses, has decreased by more than 5 percent to $ 4.14 of pounds in the United States. Bitcoin decreased by 0.8 percent to $ 78198 a symbol. The US dollar decreased by 0.3 percent against a basket of its largest commercial partner currencies, while the Japanese yen rose 0.8 percent to $ 145.6 of the dollar. Chinese Renminbi, abroad, which is trading freely, decreased by 0.2 percent to $ 7.31 per year per dollar.

Trump has not shown any sign that he would back down from his identification plan on Sunday.

“We have a tremendous financial deficit with China, the European Union, and many others.

He was later asked about the decline in the market, Trump told the correspondents that “sometimes you have to take the drug to fix something.”

Earlier, Treasury Secretary Scott Besent refused the market’s “short -term” response to the president’s aggressive definitions, and NBC told the White House “would hold the session.”

“Our commercial partners have benefited from us,” said Bessent. When asked if Trump’s tariff was negotiable, he said: “We will have to see what [other] The two countries are progressing and whether it is reasonable. “

His comments followed a warning from the Federal Reserve Chairman, Jay Powell, that the definitions will work on “higher inflation and slow growth.”

The return of the US Treasury Department for 10 years, which was closely monitored by Trump administration officials, fell 0.08 percent to 3.91 percent.

JPMorgan economists said on Friday that they expect the world’s largest economy to shrink 0.3 percent this year “under the weight of definitions.” They have already expected 1.3 percent growth.

Some investors worry that stocks will continue to slip until Trump indicates that his tariff will be less aggressive.

Activist investor Bill Akman, who supported Trump’s voice loudly during the election campaign, posted on X that “huge and impartial definitions” had risked “by destroying confidence in our country as a commercial partner, as a place to carry out business and a capital investment market.”

Trump urged to call “time” on Monday.

“Instead, we are heading to an economic nuclear winter resulting from itself, and we must start overcoming,” he wrote.

“The uncertainty is the big word at the present time and we are not even in the event of uncertainty in the peak policy yet,” said December Mullarkey, SLC Management Managing Director.

The banks and technological stocks were among the most difficult of that strike last week, as the dollar drowned against other major currencies, and the treasury revenues, which are inversely transmitted to prices, fell with investors rushing to the assets of the safe haven. European and Asian stock markets also decreased sharply, while goods, including copper and oil, have decreased on fears of a global trade war.

On Friday was the fifth largest session for “active net discounts” by investors since 2010, according to Morgan Stanley, with long -standing stock boxes responsible for 80 percent of net sale.

The decrease of S&P 500, which is more than 10 percent during Thursday and Friday is the fourth time over the past 85 years – after crashing in 1987, in 2008 during the financial crisis and early 2020 – the index has decreased so far, very quickly, according to Deutsche Bank.