Selloff Global Trump Global Global continues with Asian markets and the US dollar decline for the second day
Asian stocks fell on Friday after US President Donald Trump’s tariff sent
Everything from crude oil fell to large technology shares to the value of the US dollar against other currencies. Even gold, a traditional safe haven recently struckStandard recordsHe decreased after Trump declared “Liberation Day”A set of definitions, ‘Economists say they say a toxic mixture that is likely to weaken economic growth and high inflation.
The markets were closed in Shanghai, Taiwan, Hong Kong and Indonesia for holidays, which limits the scope of Fridays on Friday in Asia.
Nikkei 225 lost in Tokyo 4.3 % to 33,263.58, while South Korea Korea sank 1.8 % to 2,441.86.
The American allies said they focus on negotiating a lower tariff with the Trump administration.
S&P/ASX 200 decreased in Australia by 2.2 % to 7,684.30.
In the other trading early Friday, the US dollar fell to 145.39 Japanese yen from 146.06. The yen is often used as a shelter at unconfirmed times, while Trump’s policies are partially aimed at weakening the dollar to make goods made in the United States more competitive abroad. The euro gained $ 1.1095 from $ 1.1055.
Trump has announced the minimum customs tariffs by 10 % on global imports, with a high rate of product tax from some countries such as China and those from the European Union. The smaller and poorest countries in Asia were slapped with definitions of up to 49 %.
It is “reasonable” to the tariffs completely, which would compete with the invisible levels for more than a century, can climb American economic growth by 2 points this year and increase inflation by approximately 5 %, according to UBS.
This is a big blow “that makes the rational mind of the individual view the possibility of adhesion to the depression,” according to Bhanu Baweja and other UBS strategies.
Trump has already said that the definitions could cause “little turmoil” in the economy and markets. On Thursday, reduce the effect.
“The markets will flourish, and the stocks and the country will flourish,” Trump said.
The S&P 500 4.8 % sank to 5,396.52, and an average Dow Jones industrial decreased by 4 % to 40,545.93. The boat fell on the Nasdaq Stock Exchange by 6 % to 16,550.61.
Some of the worst smaller American companies, and the Russell 2000 index of smaller stocks decreased by 6.6 % to withdraw more than 20 % less than their record.
Four out of five who make up S&P 500.
Best Buy has decreased by 17.8 % because the electronics it sells is made all over the world. United Airlines lost 15.6 % because customers who are concerned about the global economy may not fly much to work or feel enough comfort to take leave.goal10.9 % decreased amid fears that its customers, who have already been pressured with high inflation, may be under greater pressure.
Investors knew that Trump would announce the sweeping of a new tariff, and the surrounding concerns have already pulled the Wall Street health scale, the S&P 500 index,10 % lower than the height at all.
Some analysts and investors believe that Trump may simply use tariffs as a negotiating tool, not as a long -term policy. But on Wednesday, he indicated that he saw them as a way to return the factory functions to the United States, which may take years.
The Federal Reserve can reduce interest rates to support the economy, but low prices can increase inflation, which is already worried in viewFamilies are preparingFor sharp increases to their bills due to definitions.
Treasury returns partially fell to increasing expectations for price discounts, as well as the public fear of the health of the American economy. The return on the cabinet decreased for 10 years to 4.04 % from 4.20 % late on Wednesday and about 4.80 % in January.
A report on Thursday saidLess number of American workers apply for unemployment benefits last weekBetter than economists who were expecting. A separate report said that the activity of American transport, financing and other companies in the service industry grew last month, but with less expectations.
Also early on Friday, prominent American crude oil threw 70 cents to $ 66.25 a barrel. Brent crude, the international standard, decreased 64 cents at $ 69.50 a barrel.
This story was originally shown on Fortune.com
