US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
South Korea GDP Surges on Chip and AI Boom 
Asian Stocks Mixed as Korean Chipmakers Rally 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Gold Prices Rise as Yen Rally Weakens Dollar 
UK House Prices Fall for First Time Since 2023 
China to Inject $45 Billion Into State Financial Institutions 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
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Wall Street suffered its steepest two-day drop since the pandemic, as mounting global trade tensions and sweeping tariffs imposed by the Trump administration triggered a major market selloff. The Nasdaq Composite officially entered a bear market Friday, while the Dow Jones Industrial Average confirmed a correction.
Over Thursday and Friday, the Dow fell 9.3%, the S&P 500 dropped 10.5%, and the Nasdaq plunged 11.4%. The selloff wiped trillions off U.S. company valuations, with the CBOE Volatility Index hitting its highest level since April 2020.
Investor panic surged after Trump raised tariffs to their highest level in over a century, prompting concerns over a looming global recession. Global responses added fuel to the fire—China’s finance ministry announced a 34% tariff on all U.S. goods starting April 10, while leaders from the UK, Australia, and Italy discussed retaliation.
On Friday alone, the Nasdaq dropped 962.82 points (5.82%) to 15,587.79, the Dow fell 2,231.07 points (5.50%) to 38,314.86, and the S&P 500 slid 322.44 points (5.97%) to 5,074.08—its lowest close in 11 months. Weekly losses stood at 10% for the Nasdaq, 9.1% for the S&P 500, and 7.9% for the Dow.
Fed Chair Jerome Powell warned the tariffs could spark inflation and slow growth, possibly influencing future monetary policy. The 10-year Treasury yield dipped below 4%, adding pressure to bank stocks, with the S&P Banks index dropping 7.3%.
All 11 S&P sectors fell over 4.5%, with energy leading losses, down 8.7% as U.S. crude slid 7.3%. Tech and China-exposed stocks plunged, including Apple (-7.3%), Alibaba, and JD.com (both down over 7.7%). Chipmakers, heavily reliant on U.S.-China supply chains, dropped another 7.6%.
