• About
  • Contact
  • Advertise
  • Privacy Policy
  • Terms Of Use
Sunday, June 15, 2025
No Result
View All Result
Converseer
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports
No Result
View All Result
Converseer
No Result
View All Result
Home News

Trump’s tariff hikes pull Asian shares, U.S. futures sharply lower

by Editorial Team
3 April 2025
in News

Shares tumbled in Europe and Asia and U.S. futures tumbled Thursday following U.S. President Donald Trump ’s announcement of big increases in tariffs on imports of goods from around the world.

The double-digit tariff hikes sent shivers across world markets, as economists warned it raises the risk of recession.

The future for the S&P 500 dropped 3.1% while that for the Dow Jones Industrial Average lost 2.6%, auguring potential losses when U.S. markets reopen on Thursday.

Germany’s DAX fell 1.7% to 21,998.48, while the CAC 40 in Paris lost 1.8% to 7,716.66. Britain’s FTSE 100 shed 1.2% to 8,506.44.

In Asian trading, Tokyo’s Nikkei 225 index dipped 4% briefly, with automakers and banks taking big hits. It closed down 2.8% at 34,735.93.

Mitsubishi UFJ Financial Group’s shares plunged 7.2% as the potential impact of the 24% tariffs on the export-dependent Japanese economy dashed expectations that the central bank will keep raising interest rates. Mizuho Financial Group skidded 8%.

Sony Corp.’s stocks sank 4.8% and Toyota Motor Corp. gave up 5.2%.

Japan’s yen gained , with the U.S. dollar falling to 147.42 Japanese yen from 149.28 yen. The euro rose to $1.0952 from $1.0855.

In South Korea, which was hit with a 25% tariff, the benchmark Kospi fell 1.1% to 2,486.70.

Hong Kong’s Hang Seng lost 1.7% to 22,813.22, while the Shanghai Composite index edged 0.2% lower to 3,342.01.

The announcement came as a “major shock,” Yeap Junrong of IG said in a commentary. “China, in particular, was hit with an additional 34% tariff, bringing its total tariff burden to 64% when accounting for previous measures.”

However, losses were partly blunted by expectations of further economic stimulus from Beijing to offset the impact of the higher tariffs.

In Australia, the S&P/ASX 200 fell 0.9% to 7,859.70.

Bangkok’s SET shed 1.1% after Thailand was assigned at 36% tariff on its exports to the U.S. That could cause Thai exports to fall by $7 billion to $8 billion, or about 2.3% of the total, Kasem Prunratanamala of CGS International said in a report.

On Wednesday, U.S. stocks whipped through another dizzying day before Trump’s unveiling of his “Liberation Day” tariffs.

The S&P 500 rose 0.7% to 5,670.97 after careening between an earlier loss of 1.1% and a later gain of 1.1%. It’s had a pattern this week of opening with sharp drops only to finish the day higher.

The Dow industrials added 0.6% to 42,225.32, and the Nasdaq composite climbed 0.9% to 17,601.05.

Financial markets around the world have broadly been shaky lately because of uncertainty about Trump’s trade war. He has said he wants tariffs to make the global system more fair and to bring manufacturing jobs back to the United States from other countries. But tariffs also threaten to grind down growth for the U.S. and other economies, while worsening inflation when it may be stuck above the Federal Reserve’s 2% target.

After the U.S. market closed, Trump declared a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States. The president held up a chart while speaking at the White House, showing the United States would charge a 34% tax on imports from China, a 20% tax on imports from the European Union, and 32% on Taiwan.

Trump earlier announced 25% tariffs on auto imports; levies against China, Canada and Mexico; and expanded tariffs on steel and aluminum. Trump has also put tariffs against countries that import oil from Venezuela and plans separate import taxes on pharmaceutical drugs, lumber, copper and computer chips.

Treasury yields swung in the bond market, echoing the indecision seen in the stock market.

The yield on the 10-year Treasury fell as low as 4.11% in the morning from 4.17% late Tuesday and from roughly 4.80% early this year. But it later rose to 4.18%. Higher yields can indicate higher expectations for the economy or for inflation.

In other dealings early Thursday, U.S. benchmark crude shed $2.63 to $69.08 per barrel. Brent crude, the international standard, gave up $2.62 to $72.33 per barrel.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

© Japan Today

Tags: World News

Related News

Otu tasks newly sworn-in NYSC members on laudable community projects

More female graduates assume NYSC camp in Cross River

15 June 2025
Adedayo Modupe

Agric Minister declares 3-day fasting and prayer for food security

15 June 2025
Iran’s fresh missile attack injures 14 in Israel

Iran’s fresh missile attack injures 14 in Israel

15 June 2025
Trump to impose visa ban on Nigerians, 35 other countries

Trump to impose visa ban on Nigerians, 35 other countries

15 June 2025

Latest News

Another Indian aircraft crash kills 7, including 2-year-old

More female graduates assume NYSC camp in Cross River

Renewed communal clash claims lives in Cross River

How siblings held American returnee in captivity in his house in Anambra

Agric Minister declares 3-day fasting and prayer for food security

Iran’s fresh missile attack injures 14 in Israel

About Us

Converseer is an online newspaper that delivers impartial, comprehensive news coverage on politics, business, and education, among other topics. Our goal is to bridge the information gap and promote progress across various sectors of society.

Social Media

  • Facebook
  • WhatsApp
  • X (Twitter)
  • YouTube

Coverage

  • Africa
  • Americas
  • Asia
  • Europe
  • Middle East

Topics

  • Special Reports
  • Fact Check
  • Feature
  • Opinion
  • History
  • About
  • Contact
  • Advertise
  • Privacy Policy
  • Terms Of Use

© 2025 Converseer - All Rights Reserved. Paradise Media Venture.

No Result
View All Result
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports

© 2025 Converseer - All Rights Reserved. Paradise Media Venture.