Global stock markets, commodity prices, and digital assets suffered sharp declines this week following U.S. President Donald Trump’s signing of an executive order imposing broad reciprocal tariffs on over 180 countries, ranging from 10% to 50%. The move has sent shockwaves through financial markets, amplifying fears of a global trade war and economic slowdown.
Among the most affected, the Hang Seng Index in Hong Kong recorded its worst single-day performance in 16 years, plunging 13.74%, while Japan’s Nikkei 225 dropped 7.8%. The Asia Dow shed 9.5%, and China’s Shanghai index declined 7.34%. European markets also reeled, with Germany’s DAX down 10%, Britain’s FTSE100 losing 6%, and France’s CAC 40 falling 6.7%. The U.S. stock market closed last week with its worst losses since the pandemic, with the Nasdaq entering bear market territory and the S&P 500 and Dow recording their steepest falls since 2020.
Commodity markets posted mixed but largely negative trends. Brent crude oil fell 3.3% to $63.4 a barrel, while natural gas declined by 2%. Gold dipped slightly to $3,026 per ounce, and copper and steel prices also dropped. Meanwhile, global digital assets saw heavy losses, with Bitcoin down 8.2% to $76,100 and Ethereum crashing 17% to $1,488. The total cryptocurrency market capitalization dropped by over 10%, reflecting the broader investor panic sparked by the unprecedented scale of the U.S. tariff decision.
