Trump Tariffs Send Asian Markets and Futures Down \ Newslooks \ Washington DC \ Mary Sidiqi \ Evening Edition \ Asian markets and U.S. futures plunged Thursday after President Trump’s sweeping new tariff plan targeted imports from key trading partners including Japan and South Korea. Investors reacted swiftly to the latest “Liberation Day” trade measures, fearing higher inflation and slower global growth. Major indexes in Tokyo, Seoul, and Sydney dropped sharply, while U.S. futures signaled more volatility ahead.

Market Mayhem After Trump Tariffs – Quick Looks
- Trump Targets Allies: Japan hit with 24% tariff, South Korea with 25%.
- Tokyo’s Nikkei Dives: Fell over 3.4%, ended down 2.9% at 34,699.52.
- South Korea’s Kospi Slips: Dropped 1.9% to 2,459.30 early Thursday.
- Australia Feels the Impact: S&P/ASX 200 fell 1.8% to 7,793.10.
- U.S. Futures Tank: S&P 500 down 3%, Dow futures off 2%.
- Markets Swung Wednesday: S&P 500 closed up 0.7% after volatility.
- Tesla Rebounds: Rose 5.3% despite weak Q1 delivery report.
- Newsmax Plummets: Fell 77.5% after meteoric stock gains earlier in the week.
- Airlines Rise: United Airlines gained 4.6%, rebounding from tariff-related declines.
- Oil Prices Drop: U.S. crude down to $69.63, Brent at $72.89.
- Currency Moves: Dollar slipped against yen; euro edged higher.
Deep Look
Global financial markets were rattled Thursday morning as investors digested the fallout from President Donald Trump’s latest round of sweeping tariffs, announced as part of his so-called “Liberation Day” trade reset. The move, which includes baseline tariffs and steep import taxes on U.S. allies, triggered immediate selloffs across Asian markets and sent U.S. futures sharply lower, signaling potential turbulence when Wall Street reopens.
The Nikkei 225 in Tokyo led the declines, plunging more than 3.4% before recovering slightly to close down 2.9% at 34,699.52. Japan, long considered a close U.S. ally, was stunned by a 24% “reciprocal” tariff imposed by Washington.
Neighboring South Korea, also targeted with a 25% import tax, saw its Kospi index fall 1.9% to 2,459.30 shortly after trading began.
In Australia, the S&P/ASX 200 shed 1.8%, closing at 7,793.10, reflecting wider concerns that Trump’s escalating trade war could dent regional growth and global supply chains.
Meanwhile, U.S. futures plunged overnight, with S&P 500 futures down 3% and Dow Jones futures falling 2%, pointing to further volatility as investors brace for higher costs, weaker consumer sentiment, and corporate earnings pressure.
Volatility Already Hitting U.S. Markets
Markets had already been choppy earlier in the week, with the S&P 500 swinging wildly on Wednesday before closing up 0.7% to 5,670.97. The Dow Jones Industrial Average gained 0.6% to 42,225.32, while the Nasdaq composite rose 0.9% to 17,601.05—recovering from steep morning losses.
Among the day’s standout stories was Tesla, which initially slumped over 6% after reporting lower Q1 vehicle deliveries compared to the same period last year. The EV giant later rallied to end the day up 5.3%, lifted by optimism that CEO Elon Musk may shift focus back to the company amid political controversy.
Another eye-popping move came from Newsmax, which plunged 77.5% in its third day of trading, surrendering much of its earlier gains after surging 735% on Monday and 179% on Tuesday in a meme-stock-style run.
Despite jitters, airline stocks showed resilience: United Airlines rose 4.6%, bouncing back from recent fears that tariffs would discourage international travel demand.
Tariff Details and Global Backlash
Trump’s tariff package includes a 10% baseline tax on all imports, with additional levies targeting countries with trade surpluses. During a speech at the White House, Trump displayed a chart showing the U.S. would now impose:
- 34% on imports from China
- 20% on the European Union
- 32% on Taiwan
Trump previously unveiled:
- 25% tariffs on auto imports
- Tariffs targeting China, Canada, Mexico
- Expanded duties on steel, aluminum, and goods from Venezuela
- Future import taxes on pharmaceuticals, copper, lumber, and microchips
He framed the policy as an effort to reverse decades of unfair trade practices, claiming these measures would revive domestic manufacturing and national self-reliance.
“This isn’t just about economics. It’s about national security and protecting the American way of life,” Trump declared.
Bonds and Commodities React
The U.S. bond market mirrored the uncertainty, with the 10-year Treasury yield falling to 4.11% early Thursday before climbing back to 4.18%. These swings reflect investor confusion about whether the tariffs will fuel inflation or stall growth.
Oil markets also dropped, with:
- U.S. crude down $2.08 to $69.63 per barrel
- Brent crude off $2.06 to $72.89 per barrel
Analysts said energy prices were reacting to fears of slowing global demand in the wake of tighter trade conditions.
On the currency front, the U.S. dollar weakened to 148.07 yen, down from 149.28 yen. The euro edged up to $1.0897 from $1.0855, as traders weighed the potential for long-term disruption to international markets.
The Broader Outlook
While Trump insists the tariffs will deliver jobs and factories back to the U.S., critics warn they risk triggering inflation, delaying investment, and undermining fragile global growth—especially if trade partners respond with retaliatory tariffs of their own.
Investors and economists will be closely watching how China, the EU, and other major economies react in the coming days—and whether Wall Street’s volatile recovery can continue under the weight of a potential trade war escalation.
Trump Tariffs Send Trump Tariffs Send
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