Trump's tariffs spar global panic: here’s what’s unfolding

CGTN Europe

Global sell-offs. Reset expectations. Wilting billionaires. Intensified recession warnings. Trump's tariffs made a lot happen in a short time. Check our guide to find out why.   Read this piece in full👇 https://tinyurl.com/3ju7u28a

Transcript

00:00Last week, Trump announced sweeping new tariffs on foreign imports.

00:03And nearly $9.5 trillion has already been wiped from global markets.

00:08So what's actually happening?

00:09In just two days, the S&P 500 dropped over 10%.

00:12Markets in Europe and Asia plunged as panic selling spread across sectors.

00:17Hedge funds are dumping stocks or betting on further losses.

00:20The world's richest have taken a direct hit.

00:22Bloomberg says the top 500 billionaires lost $187 billion in 48 hours.

00:28Zuckerberg alone lost $12 billion.

00:31Meanwhile, investors are piling into U.S. government bonds, a sign they're bracing for trouble.

00:36Interest rates are falling, but credit is tightening, and companies are pulling out of planned bond sales.

00:42Economists are warning of a possible recession.

00:45Trump says this is medicine.

00:47But the fallout is moving fast.

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