Global stock markets took a hit on Tuesday following the implementation of President Trump's tariffs on Canada, Mexico, and China. The S&P 500 dropped by 0.7%, compounding a 1.8% loss from the previous day, marking one of its steepest declines. Investors shifted towards safe-haven government debt, pushing down the 10-year Treasury yield to its lowest since October. Concerns about the economy's capacity to handle these tariffs have sparked speculation that the Federal Reserve might cut interest rates multiple times this year, amid fears of a trade war's impact on global growth.
Global stocks experienced a significant decline as investor fears about the economy heightened due to President Trump's tariffs on Canada, Mexico, and China.
The S&P 500's 0.7% fall on Tuesday capped off a 1.8% drop from the previous day, marking its steepest decline of the year.
Investors are moving towards government debt, lowering the yield on the 10-year Treasury note, indicating rising concerns about economic resilience against tariffs.
Market analysts indicate that while trade tensions could cause short-term growth rebounds, they pose serious long-term risks to global economic stability.
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