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Global Financial Markets in Turmoil: The Impact of Trump's Tariffs

Financial markets across the globe are experiencing significant turmoil, with Asia leading the charge as stocks plummet sharply. Investors are gripped by fears that President Donald Trump's trade tariffs could spark a worldwide recession, leading to a staggering loss of nearly $150 billion on the ASX in less than an hour. In Hong Kong, the Hang Seng Index has seen declines of around 10%. Since “Liberation Day,” the US S&P 500 has fallen by nearly 14%, the European Stock 600 by about 13%, and the Shanghai Stock Exchange has dropped close to 8%.