Global markets slide as fears over US tariffs intensify

Stock markets plunged today as a closely watched US inflation reading heated up amid intensifying concerns over fallout from President Donald Trump’s incoming wave of tariffs.

Shares in automakers fell further as they brace for 25 percent US tariffs due to kick in next week along with a raft of “reciprocal” surcharges tailored to different countries.

The market mood has soured over fears that Trump’s plans will trigger tit-for-tat measures that would rekindle inflation, which could put the brakes on interest rate cuts and spark a recession.

“Investors remain nervous over the economic repercussions from President Trump’s tariff threats, just days before he unleashes his ‘reciprocal tariffs'” on April 2, says David Morrison, senior market analyst at financial services provider Trade Nation.