Japan's Nikkei tracks Wall Street lower on global recession fears
- A bipartisan group of senators introduced a bill requiring the president to submit new tariff policies for congressional approval, amid rising recession fears linked to President Trump's tariff policy announcement.
- China announced a 34% tariff on U.S. Goods in response to Trump's proposed tariffs, raising recession risks as J.P. Morgan increased the likelihood of a recession this year to 60%.
- The Standard and Poor's 500 and the Dow Composite dropped over 4.5%, losing $5 trillion in value in just 48 hours, marking the largest loss on record.
- Senators Charles Grassley and Maria Cantwell are part of the bipartisan effort to address tariff controls in Congress.
12 Articles
12 Articles
Stock market panic over tariff war as world fears recession specter
As on the previous day, stock prices fell sharply on Friday. Investors were still shocked that the reciprocal import tariffs announced by US President Donald Trump were much higher than expected. Moreover, countermeasures by China increased fears of a further escalation of the trade war and thus of a global recession.
Japan's Stocks Slide as Global Growth Outlook Darkens on Tariffs
(Bloomberg) — Japanese stocks fall as global investors dumped riskier assets on concern Donald Trump’s tariffs will slow the world economy. Bank shares slid most on the view Bank of Japan won’t raise interest rates as much if US levies batter the economy, while a stronger yen hurt exporting companies.
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