Global stocks have taken a hit following Trump’s tariff announcement, especially against China. Nasdaq fell over 3%, with major tech companies seeing significant drops: Apple 4.2%, Tesla 6.8%, Microsoft 4.2%, Amazon 3.9%, and Meta 4.5%. The World Trade Organization has revised its 2025 global merchandise trade forecast, predicting a 0.2% decline. The WTO Director-General warned that escalating US tariffs and spillover effects could lead to the worst trade slump since the COVID-19 pandemic.
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