Global stock markets have seen significant declines in anticipation of President Trump's announced tariffs, leading to fears of a potential trade war termed 'Liberation Day'. Indices like Hong Kong's Hang Seng and Japan's Nikkei hit new lows, raising concerns about a possible recession in major economies. Experts suggest that retaliation from other countries could exacerbate the situation, increasing uncertainty and dampening global economic sentiment. Investors are seeking clarity amid rising tensions, which are negatively affecting business confidence and expected economic activity in the coming months.
"The situation which is much more worrying is if it would expand into more of a trade war, and then everybody is doing tit-for-tat strategies, then that could escalate and lead to a downturn, a recession in major economies, it could lead to a global recession."
"Nervousness is the dominant sentiment right now. Investors are hoping for some clarity, and perhaps the start of the deal making phase."
"Trump has called April 2 'Liberation Day' but it is unlikely that investors will truly be liberated from tariff uncertainties."
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