Global stock markets continue to tumble sharply following Donald Trump’s announcement of global import tariffs on goods from more than 180 countries. The new duties, ranging from 10% to over 50%, have triggered a dramatic escalation in trade tensions, particularly between the U.S. and China.
On Friday, market declines accelerated after China announced mirrored 34% tariffs on all U.S. imports, effective April 10. Beijing’s move was in response to Washington’s similar tariff hikes. China’s Ministry of Commerce declared it would not leave the U.S. actions unanswered, further intensifying global economic strain.
Germany’s DAX industrial index dropped by over 1,000 points — roughly 5% — hitting a daily low of 20,590 points. According to dpa, the weekly loss has already reached 8%. Tim Ochsner, a capital markets expert at Steubing AG, noted that the situation reflects “high volatility” amid the trade turmoil.
European indexes overall experienced their steepest single-day decline in years — averaging around 5%. France’s CAC 40 fell by 4.3%, while Spain’s IBEX35 lost about 5%, dropping to 12,500 points. Nonetheless, IBEX35 was among the few European indices to react relatively mildly to the tariff news, posting only a 1.2% decline over the week.
The tariff policy also hit American markets hard. The S&P 500 fell by 6% to 5,074.08 points — its lowest level since March 2020. The Dow Jones dropped 5.5%, shedding 2,231 points, while the Nasdaq plummeted 5.8%, officially entering a bear market — defined by a decline of over 20% from a recent high.
Shares of most companies in the S&P 500 ended the day lower, with only 14 out of 500 stocks posting gains. Oil and copper prices also plunged, reaching their lowest levels since 2021 amid fears of a global economic slowdown.
Donald Trump himself continues to send mixed signals. He stated that Americans “might feel some pain” from the tariffs, but described it as a necessary move to bring back manufacturing jobs. On Friday, he likened the situation to a medical operation, saying, “It will get worse before it gets better.”
On his Truth Social platform, Trump criticized China’s actions, claiming they had “panicked” and “played it wrong.”
