Global Markets Tumble as Trump's Tariff Tension Escalates

Global markets faced a setback on Friday as US President Donald Trump introduced a new set of tariffs targeting 68 countries, including key trade partners in the EU. This move has ramped up uncertainty in already volatile market conditions, with global investors reacting skeptically.

The ramifications were evident as European indices such as Germany's DAX and Britain's FTSE 100 fell sharply. Similarly, Asian markets like Japan's Nikkei and South Korea's Kospi registered significant declines. This sudden tariff adjustment signals a shift to heightened protectionism in US trade policies.

Market analysts highlight that the new tariff structure presents a strategic shift: imposing a minimum 10% rate and higher surcharges for nations with surplus trade balances with the US. This could reshape industry costs, especially in tech and manufacturing sectors. On Wall Street, the effect was mixed, with big tech companies like Meta and Microsoft posting gains despite the broader market downturn.

(With inputs from agencies.)