Market Highlights

Global markets plunged as Trump’s aggressive tariff escalation unraveled the “America First” trade, wiping out $2 trillion from the S&P 500 and sending the dollar tumbling alongside risk assets. Fears that the steepest U.S. tariffs in a century will choke growth sparked a rush into havens like Treasuries and the yen, while investors await Powell’s speech and the upcoming U.S. jobs report for clarity on the economic outlook.