"Reciprocal tariffs" trigger a sharp decline in U.S. stocks. JPMorgan: The probability of a global economic recession rises to 60%.
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U.S. President Trump announced a significant increase in tariffs, leading to market concerns about an all-out trade war and a global economic recession. On April 3, the three major U.S. stock indices fell sharply, recording the largest single-day drop in years.
After U.S. President Trump announced a massive increase in tariffs, concerns about a full-blown trade war and a global economic recession continue to rise, leading to a significant decline in the three major U.S. stock indices on Thursday, marking the largest single-day drop in years.