Global Markets Tumble Ahead of Trump’s ‘Liberation Day’ Tariffs
As President Trump’s “Liberation Day” tariffs loom on April 2, 2025, global stock markets are in freefall. The S&P 500 dropped 0.6%, facing its worst quarter in three years, while the Nasdaq slid 1.6%, dragged down by Tesla (-4.7%) and Nvidia (-4.1%). Japan’s Nikkei 225 fell 4%, South Korea’s Kospi 3%, and France’s CAC 40 1.6%. Investors, fearing inflation and slower growth, flocked to safe havens—gold hit $3,160 per ounce, and the 10-year Treasury yield dipped to 4.22%. Trump’s “reciprocal” tariffs aim to boost U.S. manufacturing but could spark a 35% recession risk, per Goldman Sachs. Big Tech and airlines like United (-4.8%) took hits, while Mr. Cooper soared 16.6% on a $9.4 billion Rocket buyout. Wednesday’s tariff rollout could either ease fears or deepen the market rout.