Global Stock Market Plummets Amid Escalating Trade Tensions
The global stock market has experienced a significant downturn due to rising trade tensions sparked by the U.S. President Donald Trump's recent tariff regime announcement. European stocks sank for the fourth consecutive session, with the Euro Area Stock Market Index (EU50) decreasing by 4.66% since the beginning of 2025. Indian markets also felt the impact, with the Sensex and Nifty plummeting by around 3%.
● Global Reactions to Trump's Tariff Measures:
World leaders have expressed concerns about the global economy in response to Trump's tariff measures:
● British Prime Minister Keir Starmer: Criticized the newly imposed U.S. tariffs on UK goods, emphasizing the 25% tariff on automotive exports and 10% on other goods as significant challenges for Britain's industrial base.
● Russian Spokesperson Dmitry Peskov: Accused the U.S. of undermining global economic stability with sweeping tariff hikes, stating that Russia will take necessary steps to minimize the consequences for its economy.
● Bangladesh's Chief Adviser, Professor Muhammad Yunus: Requested a three-month postponement of the 37% U.S. reciprocal tariff on Bangladeshi products and proposed tariff cuts on U.S. exports like gas turbines and medical equipment.
● Market Impact and Concerns:
The global market turmoil has sparked concerns about economic stability, with leaders urging caution and cooperation to mitigate the effects of the trade tensions. The escalating trade war between the U.S. and other countries has the potential to disrupt global supply chains, affecting economies worldwide .
