Markets are experiencing severe turmoil as Donald Trump's new tariffs take effect, prompting fears of a potential global recession. Stock indices have fallen significantly, registering losses comparable to initial Covid-19 pandemic levels. Analysts predict continued market volatility amid escalating trade tensions, particularly with China's aggressive responses. UK Prime Minister Keir Starmer is preparing measures to safeguard local businesses while suggesting a possible economic reset. Overall, the impact of these tariffs has led to speculation about the future of global trade and economic strategies.
"Volatility will likely stay elevated as we move into [the] week. However, the danger of escalation of trade tensions cannot be overlooked."
"China hit back hard against Trump on Friday, accusing him of bullying tactics and slapping 34% of additional tariffs on all goods imported from the US."
"The era of globalisation has come to an end, though the UK is still hopeful of striking a trade deal with the White House."
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