Global Markets Rocked by Tariff Waves: Investors Eye U.S. Jobs Data
Global shares suffered a downturn due to U.S-imposed tariffs, sparking investor concern ahead of key U.S. jobs data that might influence Federal Reserve rate decisions. Both U.S. and international markets saw significant losses, overshadowed by potential economic shifts depending on job market outcomes.
Global shares took a nosedive on Friday after the United States announced steep tariffs on numerous trading partners. The financial markets awaited crucial U.S. jobs data that could significantly impact the Federal Reserve's upcoming rate decision.
The pan-European STOXX 600 dropped 1.3%, making it the largest weekly fall since President Donald Trump revealed tariffs in early April. This market reaction was echoed as Nasdaq and S&P 500 futures fell about 1% each.
Late Thursday, tariffs ranging from 10% to 41% were slammed on U.S. imports from various countries, escalating the trade war fears. Meanwhile, oil and Asian shares also took hits, underscoring the fragility of global economic stability amid geopolitical tension.
(With inputs from agencies.)
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