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Donald Trump has ignited concerns of a global stock market downturn with his bold tariff threats.
On Monday, global markets plummeted while gold soared to record highs following the president’s decision to impose a 20 percent tariff on all imports.
The business mogul built his election campaign—and his first months in office—on promises of sweeping tariffs, and this week, he is set to unveil his long-awaited strategy to reshape America’s economic future.
In recent days, Trump has pushed his team to “be more aggressive” as they finalize the details of the tariff plan.
His advisers are weighing broad global tariffs of up to 20 percent, impacting nearly every U.S. trading partner with minimal exemptions.
Initially, Trump and his team championed this approach on the campaign trail but later pivoted to promoting reciprocal tariffs—a system where the U.S. would charge other nations the same rates they impose on American goods.
However, the 78-year-old president is now reportedly eager to set “a clean number,” directing his team to craft a policy that is “big and simple.”
The stock market has reacted sharply, tumbling amid growing fears of a recession and financial strain on households—despite Trump’s broad voter support, much of which stems from frustration over the cost of living crisis.
An insider shared, “Her choices reflect a deep respect for tradition and underscore the significance of the monarchy. Kate is a part of that history, too.”
Known for their poise and formality, the Princess of Wales and Prince William, 42, have surprised royal watchers with their increasingly warm and approachable demeanor following her illness.
The Commonwealth service was no exception, as the couple—who exchanged vows at Westminster Abbey in 2011—appeared happy and affectionate toward one another.
“People are seeing more of their tenderness and devotion in public,” the source added. “The past year has been one of the most challenging William and Kate have faced together, but they persevered. They’ll continue to find strength and face whatever comes next.”
Earlier this month, Middleton radiated the same joyful spirit as she raised a toast to St. Patrick’s Day with a Guinness.
During a solo visit to the Irish Guards’ St. Patrick’s Day Parade, she was filmed sipping the iconic Irish stout while receiving a formal salute from the Guards, who lifted their Bearskin caps in her honor.
Ajay Rajadhyaksha, head of rates markets at Barclays, expressed deep concern, stating, “For the first time in years, we are genuinely worried about risk assets.
If policy chaos and trade tensions escalate further, a recession is now a real possibility for major economies.
For the first time in several quarters, we prefer core fixed income over global equities.”
Meanwhile, Bruce Kasman, chief economist at JPMorgan, cautioned, “Recession risks have risen significantly—now at a 40 percent probability—due to fears that aggressive U.S. policies will undermine business and household confidence.”
“With the latest tariff hikes expected to push U.S. core inflation above four percent next quarter, households with strong finances will need to reduce their savings rate to help absorb the impact.”
U.S. stocks have struggled throughout March, with the Nasdaq Composite (COMP) heading for its steepest monthly drop since December 2022.
Meanwhile, the S&P 500 (SPX) has plunged 6.3 percent, putting it on track for its worst monthly performance since September 2022.
