Global markets are in turmoil after President Donald Trump unveiled sweeping new tariffs on major trade partners. Stock indexes in London, Paris, Tokyo, and Hong Kong took a hit, while gold soared to a record high as investors sought safety. Big-name companies like Adidas, Puma, Pandora, and LVMH saw their shares plunge. Experts warn this drastic shift in trade policy could spark inflation and even push the U.S. toward recession. Here’s what you need to know in just 60 seconds.
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00:00Global stock markets are reeling, and it all started with one announcement from President Donald Trump.
00:06In a dramatic turn, Trump slapped sweeping tariffs on global trade partners, shaking markets from Tokyo to London.
00:13The fallout
00:14Japan's Nikkei plunged nearly 3 percent and Hong Kong's Hang Seng dropped 1.5 percent.
00:20In Europe, France's CAC 40 tumbled 1.7 percent and the UK's FTSE 100 slid 1 percent.
00:28Investors are scrambling for safety.
00:31Gold, the go-to in times of crisis, soared to a record $3,167 an ounce before cooling off.
00:40And it's not just numbers on a screen.
00:42Major companies are feeling the hit.
00:45Adidas shares crashed over 10 percent.
00:48Pandora plunged more than 12 percent.
00:51Even luxury giant LVMH wasn't spared.
00:54These tariffs, including a staggering 54 percent on Chinese imports, reversed decades of trade liberalization.
01:01Experts warn it could stall growth, fuel inflation, and even tip the U.S. into a recession.
01:07Markets are asking a tough question.
01:10Is there any real strategy behind this economic shockwave?
01:14One thing's clear, this isn't just policy.
01:17It's a seasonic shift in global trade.