Select theme:

Search

Newsletter image

Subscribe to the Newsletter

Join 10k+ people to get notified about new posts, news and tips.

Do not worry we don't spam!

GDPR Compliance

We use cookies to ensure you get the best experience on our website. By continuing to use our site, you accept our use of cookies, Privacy Policy, and Terms of Service.

  • Home
  • News
  • US new tariffs: Asian stock markets plunge, gold reaches record high

US new tariffs: Asian stock markets plunge, gold reaches record high

Published on April 03, 2025 at 05:41 AM

US new tariffs: Asian stock markets plunge, gold reaches record high

Gold has reached a record high, while the Japanese yen has strengthened against the dollar following President Donald Trump’s announcement of reciprocal tariffs.

The stock markets has slumped according to reports by Reuters following what has been seen as an unexpectedly aggressive tariff announcement by the US leader.

The tech sector was pummelled as manufacturing hubs in China and Taiwan faced new tariffs above 30%, bringing the total new levy to 54% on imports from China.

Citi’s global rates trading strategist, Ben Wiltshire, said, “The US effective tariff rate on all imports looks to be the highest level in over a century.”;

Nasdaq futures tumbled 4% and in after-hours trade some $760 billion was wiped from the market value of Magnificent Seven technology leaders.

Apple shares, hit hardest as the company makes iPhones in China, were down nearly 7%.

S&P 500 futures fell 3.3%, FTSE futures fell 1.8%, while European futures fell nearly 2%.

However, Gold hit a record high above $3,160 an ounce, and oil slumped more than 3% to put benchmark Brent futures at $72.56 a barrel.

In Tokyo, Japan, the Nikkei was down 3.9% at an eight-month low.

South Korea’s Kospi fell 2%. Van Eck’s Vietnam ETF fell more than 8% in after-hours trade. Australian shares fell 2%.

Markets in Taiwan were closed for a holiday.

China’s yuan touched a two-month low in offshore trade, ahead of the onshore open.

  • Share:
Super Admin

Super Admin

Arsenal set to move for Nico Williams after new chief Andrea Berta holds transfer talks with Spain star’s agent
Prev Article

Arsenal set to move for Nico Williams after new chief Andrea Berta holds transfer talks with Spain star’s agent

Next Article

EPL: ‘He’s not going to Arsenal’ – Lescott names club Isak would join this summer

EPL: ‘He’s not going to Arsenal’ – Lescott names club Isak would join this summer

Related to this topic:

Comments (0):

Be the first to write a comment.

Post Comment

Your email address will not be published. Required fields are marked *