Markets Tumble Amid New U.S. Tariff Announcements

Major stock indices saw a downturn on Monday following the U.S. administration's announcement of increased tariffs on goods from key trade partners such as Japan and South Korea. This comes as the U.S. intensifies its trade war strategy, creating ripples across global markets.

The strengthened dollar added to the economic volatility as investors grappled with uncertainty. Prominent market figures, including the S&P 500 and Nasdaq Composite, faced substantial drops, impacting shares of companies like Toyota, Honda, and Tesla. Meanwhile, Trump's latest tariff policy has so far found common ground only with the U.K. and Vietnam.

Economic analysts point to upcoming trade, inflation, and earnings reports as pivotal in determining market directions. The resilience of U.S. Treasury yields contrasts with a fluctuating euro and yen. Meanwhile, as Brent crude futures and U.S. West Texas Intermediate crude prices rose, the Federal Reserve meeting minutes awaited publication may play a crucial role in setting future interest rates.

(With inputs from agencies.)