Unsurprisingly, the US stock market is down by over 1 percent, Japan’s by 2.5 percent, and the EU market by nearly 1 percent after Trump’s tariffs hit, according to economist Laurie Laird.
#US #EU #Tariffs #Trump #WNews
#US #EU #Tariffs #Trump #WNews
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00:00Let's get into this further with economist Laurie Laird.
00:04Laurie, great to have you on.
00:06U.S. stocks dropped as Trump tariffs hit markets.
00:09Evening to you.
00:11What global reaction have we seen across the markets today
00:14to this uncertainty around tariffs?
00:19We saw a big sell-off in stocks.
00:22Japan was the biggest hit, which is sort of interesting
00:24because Japan seems to be out of the firing line,
00:27at least for the moment.
00:29We know that Donald Trump isn't too reluctant
00:31to put tariffs on allies.
00:33But Japanese markets down about 2%, 2.5%.
00:37Main Chinese markets are closed, of course,
00:39for the Lunar New Year.
00:41European markets down about 1%, a little bit more.
00:45And the U.S. markets opened down more than 1%,
00:48making up some of those gains at the moment.
00:51But to be honest, this isn't – it sounds like a dramatic reaction.
00:56And I've watched some of the headlines today,
00:58talking about this dramatic reaction.
01:00A 1%, 1.5% move in a large liquid equity market
01:05is not all that surprising.
01:08And I think that shows that we've expected these tariffs
01:10to calm Donald Trump.
01:12Look, he campaigned on him. He's a tariff man.
01:14So I don't think this hit the markets as much of a surprise.
01:18So, you know, slightly concerning.
01:21But these are all markets that have done pretty well,
01:23particularly in Europe and the U.S.,
01:25over the past couple of months.
01:27I don't see any concerns about financial stability at the moment.