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S&P 500 futures sank over 3.5% while contracts on the Nasdaq 100 slid 4.5%. Shares in Australia, Japan and South Korea tumbled at the open Thursday. US 10-year Treasury yields slumped with the flight to havens also lifting the Japanese yen and gold, which touched a new record high.

U.S. stock indexes closed higher amid choppy trading as investors positioned themselves ahead of President Trump s sweeping tariff announcements. Post-market, S&P 500 and Nasdaq futures fell sharply. Trump s tariffs include a 10% baseline on all imports and higher duties for key partners. Tesla and big-tech stocks showed gains, while CoreWeave recovered despite Newsmax plummeting.

The U.S. dollar fell on Thursday after President Trump announced new tariffs targeting around 60 countries, escalating trade tensions and impacting global markets. Investors moved towards safe havens like the yen and Swiss franc, while the euro showed resilience. The tariffs, effective April 9, prompted speculation of multiple interest rate cuts by the Federal Reserve this year.

Oil prices fell by approximately $2 after President Trump s announcement of new tariffs on trading partners, inciting fears of a global trade war affecting crude demand. The move led to a decline in Brent and U.S. West Texas Intermediate crude futures, with further concerns about inflation and economic growth amplifying the market s bearish sentiment.

President Trump s announcement of new tariffs has triggered significant market turmoil, with analysts suggesting the duties could harm economic growth and elevate inflation. Investors are particularly concerned about potential retaliations from trading partners and the larger implications for global trade relations.

U.S. President Donald Trump has imposed significant global tariffs ranging from 10% to nearly 50%, causing businesses to consider raising prices, reducing shipments, and cutting investments. This move is expected to raise costs, threaten jobs, and slow economic growth while impacting everyday goods and isolating the U.S. from global trade.

Japan s Nikkei share average plummeted to an eight-month low following President Trump s announcement of a 24% levy on Japanese goods. The steep tariffs caused a widespread market decline, with the banking sector and automakers experiencing significant losses. Toyota shares fell 4.7%, and Tokyo Electron dropped 5.8%.

Japan s 10-year government bond yield dropped significantly to its lowest level since February amid concerns over the potential negative impact on the global economy from President Trump s unexpected tariffs on imports. The yield fell by 13 basis points to 1.34%, marking its sharpest decline since the 1987 Black Monday crash.

Fed Governor Adriana Kugler highlighted that rising U.S. tariffs could lead to prolonged inflation, impacting the entire economy through supply chain networks. Higher prices are predicted, especially as consumers rush purchases before tariffs hit. Kugler suggests maintaining current interest rates due to these inflation risks, amidst concerns about slower growth and uncertain impacts of Trump s tariff policies.